Switzerland's Cicor buys Romania's Evolution Medtec

The takeover will allow Cicor to expand its engineering capabilities in the medical technology sector, it said in a press release on Wednesday.

The deal follows the group's acquisition of UK-based engineering firm STS Defence in January and is part of Cicor's broader initiative to expand its research and development platform for the medical, industrial, aerospace and defence markets.

Cicor was founded in 1966 as a flexible substrate and printed circuit board manufacturer and was listed on the SIX Swiss Exchange in 1998. The company now operates in seventeen locations globally and has some 2,700 employees.

Evolution Medtec was established in 2004 and focuses on providing equipment and IT solutions for the medical market. In 2023, the company booked a net profit of 1.7 million lei ($370,993/342,121 euro) on a turnover of 9.9 million lei, according to the latest data published on the finance ministry's website.

(1 euro=4.969 lei)