French company buys Turner Medical: Plans to expand, hire 50-100 people by March 2016
Published 6:00 am Wednesday, July 1, 2015
A French company — In’Tech Medical SAS — has bought controlling interest in Turner Medical Inc. in Athens.
Turner President Bill Turner told The News Courier Tuesday “the marriage” of Turner and In’Tech Medical — a global leader in orthopedic contract manufacturing and the world’s largest provider of surgical instruments to the spine industry — occurred June 24.
As a wholly owned subsidiary of In’Tech, Turner Medical will continue to operate from its headquarters in Athens under its current name and it will become the United States platform for the newly formed group, Turner said. Turner Medical makes various medical instruments and implants.
When asked why he decided to sell, Turner said, “It was a good opportunity to merge. I was in negotiations with them 2 1/2 years before deciding.”
He said the merger “brings more capacity to the table” for Turner Medical.
“We’re forming a great team,” Turner said. “Having a global presence makes us a significant player in the orthopedic and spine industry.”
He said that presence would be “good for the city of Athens and our employees.”
As a result of the merger, Turner Medical, which currently employs about 200 people, plans to add 50 to 100 new employees between the fourth quarter this year and the first quarter of 2016, Turner said. That will translate into additional tax revenue for the city.
“This is a very good thing for Turner Medical employees and their families,” Turner said. “It is a win-win situation for us and the employees and the customers we supply.”
Turner said In’Tech’s 2015 consolidated sales forecast is now $65 million — equally balanced between Europe and the United States — and produced by close to 500 employees globally.
From local to global
Turner Medical was founded by Turner’s father, John Turner, in 1985 in Athens.
“We took it from a local machine shop to a nationally recognized organization with the highest quality standards, the latest technologies and the most-efficient processes, always designed to meet and exceed our client’s needs as well as save them time and money,” Turner said in a press release issued Tuesday.
In’Tech SAS, of Rang-Du-Fliers, France, had this to say about acquiring Turner:
“In’Tech Medical’s demonstrated leadership in contract manufacturing and proprietary orthopedic instrument design is greatly enhanced with the addition of Turner Medical, as we continue to constantly strive to better serve our customers,” said Laurent Pruvost, president of In’Tech Medical SAS. “If increasing our market share and product line are great news, what I most value is the unique talent Turner Medical has developed over the past 35 years. The management’s know-how, combined with that of In’Tech Medical’s, turns the group into a creative engineering and problem-solving powerhouse; a serious asset for our clients and a tangible competitive advantage.”
Turner, who will remain president of Turner Medical, can retire in 18 months if he so chooses. David Brackeen will continue as vice president of the company.