Mitsubishi Chemical Corp. (MCC; Tokyo; www.m-chemical.co.jp) announced that it will acquire the thermoplastic polyurethane elastomer (TPU) business of U.S.-based AdvanSource Biomaterials Corp. (ASB; Wilmington, Mass.) Through Mitsubishi Chemical Performance Polymers, Inc., which is headquartered in South Carolina, a MCC subsidiary engaged in the performance polymers business in the U.S., MCC plans to complete the acquisition in January 2020.
ASB has a premium TPU business in the U.S., and its products are used mainly for medical devices such as cardiovascular catheters. Their share in the U.S. market has been expanding over years. TPU’s characteristics, such as biocompatibility, antimicrobial properties, and flexibility, make this product indispensable in the use and applications such as cardiovascular catheters and other devices designed for body insertion. The TPU market for medical devices is expected to achieve high growth in the future.
MCC’s performance polymers business has expanded globally through mergers and acquisitions and other measures, and currently provides various types of elastomer solutions. It will further expand its product portfolio to TPU technologies through this acquisition, as well as accelerate market development of existing business by acquiring material certifications and sales channels in the U.S. medical device market.