6th Jun 2014 06:49
LONDON (Alliance News) - FTSE 250-listed Synergy Health PLC said Friday that it has signed a multi-year outsourcing contract with Minnesota-based Sterilmed Inc.
Sterilmed reprocesses and re-manufactures single-use medical devices.
Under the contract, Synergy will take over Sterilmed's manufacturing operations and will be responsible for all the receiving, production and distribution functions, with all current Sterilmed employees transferring to Synergy. The transfer of operations and employees will occur July 27.
Synergy said that the contract was one of a group of new contracts that it mentioned in its full-year results on Wednesday without giving details. The new contracts are together worth a total of GBP48 million in yearly revenue, it said.
"We are delighted that Sterilmed has chosen Synergy in this long term and important relationship and we look forward to supporting a growing and successful business," said Chief Executive Richard Steeves in a statement.
Shares in Synergy Health are not yet traded Friday. It closed Thursday at 1,314.63 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SYR.L