BRONSCHHOFEN, SWITZERLAND – Cicor Group on Oct. 27 signed an agreement to acquire two production sites from Valtronic.

In a statement, Cicor said the move will strengthen its medical technology business, secure a strategic location in the US and enable a much-needed expansion of capacity in Morocco.

Cicor said the deal will add around 220 employees and additional revenue of at least CHF 20 million ($25.2 million), which could roughly double thanks to key customers in the US business. The transaction will not have a significant impact on Cicor’s balance sheet or the EBITDA margin, the EMS firm said.

The transfer of the business to Cicor is expected to be completed in the next few weeks. Valtronic has over 40 years’ experience in the development, industrialization and manufacture of medical and diagnostic devices, including active implants. In addition to its headquarters in Switzerland, Valtronic operates medtech production facilities in Berrechid, Morocco and Cleveland.

The Cleveland site, Cicor’s first in the US, has capacity to double its current output.

The Berrechid facility, which shares a building with Éolane Morocco, acquired by Cicor earlier this year, will double Cicor's capacity at the location. Cicor said the added capacity will enable it to meet “significantly increased demand” next year from a major industrial technology customer.