Mitsubishi Chemical Corporation announced that it will acquire the thermoplastic polyurethane elastomer (TPU) business of American Advansource Biomaterials. Mitsubishi Chemical plans to complete the acquisition in January 2020 through its subsidiary Mitsubishi Chemical High Performance Polymers. The subsidiary mainly operates high-performance polymer business in the United States.
Advansource Biomaterials has a high-end TPU business in the United States, and its products are mainly used to produce cardiovascular catheters and other medical devices. Over the past few years, the company`s products have grown in market share in the United States. TPU has good biocompatibility, antibacterial and flexibility, which makes it indispensable in applications such as cardiovascular catheters and other implantable medical devices.
Due to the aging population, the need to reduce the burden on patients, and medical device technology innovation, the market for medical device TPU is expected to achieve high-speed growth in the future.
Through measures such as mergers and acquisitions, Mitsubishi Chemical ’s high-performance polymer business has expanded to all parts of the world and currently offers various elastomer solutions. Through this acquisition, the company will incorporate TPU technology into its product portfolio, and accelerate the market expansion of existing businesses by obtaining material certification and establishing sales channels in the US medical device market.
Mitsubishi Chemical has been actively expanding its business in the United States, hoping to further strengthen its high-performance polymer business.