JOHNSON CITY, Tenn., Feb. 22, 2018 /PRNewswire/ -- NN, Inc., (NASDAQ: NNBR) a diversified industrial company, today announced it has completed the acquisition of the assets of Bridgemedica, LLC ("Bridgemedica"), a medical device company that provides concept to supply solutions through design, development engineering and manufacturing. Financial terms of the transaction were not disclosed.
Richard Holder, President and CEO commented, "The acquisition of Bridgemedica is another key step in the growth of our Life Sciences segment through significantly expanding our new product design and development capabilities. This acquisition aligns perfectly with our strategic plan and long-term objective to further diversify our portfolio and expand into markets that we believe have strong growth potential. Bridgemedica significantly expands our new product design engineering and development capabilities through its expertise in rapidly moving from the concept design stage through development and full-scale product manufacturing as we continue to focus on providing more value add and innovative solutions for our customers."
NN, Inc., a diversified industrial company combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 36 facilities in North America, Western Europe, Eastern Europe, South America and China.
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For additional information concerning such risk factors and cautionary statements, please see the section titled "Risk Factors" in the Company's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Except as required by law, we undertake no obligation to update or revise any forward-looking statements we make in our press releases, whether as a result of new information, future events or otherwise.