StatLab Medical Products, a leading developer and manufacturer of medical diagnostic products and devices, today announced the signing of a definitive agreement to merge with Waldemar Knittel Glasarbeits GmbH ( “Knittel”), a leading manufacturer of microscope slides and cover slips and provider of automation solutions for the glass industry in general. This business combination expands StatLab's existing product portfolio to include in-house production of slides and coverslips and expands the combined company's global presence to include two additional locations in Germany.

Knittel was founded in Braunschweig in 1987 by company founder Waldemar Knittel and is now managed by his daughter Anika and her husband Fabio Insalata, CEO. The company is a recognized leader in high-quality German glass products for anatomo-pathological examinations, including the flagship brand StarFrost. Under the leadership of Fabio Insalata, the company can be proud of its collaborative work with customers and its commitment to quality through innovation. In addition, Knittel Maschinenbau has set new standards, not only in its own company, but for the entire glass industry by using innovative robot automation to increase operational efficiency and quality. In connection with the transaction, investments were agreed to expand production capacity in order to better serve customers in the USA and Europe.

“Since 2021, StatLab has made significant investments to expand production capabilities and improve our ability to serve customers and transform our business. Expanding StatLab’s product portfolio to include Knittel’s slides and coverslips is an integral part of our strategy to become a differentiated market leader,” said Joe Bernardo, Executive Chairman of StatLab.

Sung-Dae Hong, CEO of StatLab, added: “I look forward to working with Fabio and the Knittel team to build on the legacy that the Knittel family has built over two generations and to jointly develop the anatomical “To transform the pathology industry.”

“Our decision to work with StatLab represents a shared vision of rapid operational innovation. We look forward to investing in our team and operations here in Germany and working with our US colleagues,” said Fabio Insalata, CEO of Knittel. “I look forward to working with Dae, Joe and the StatLab team to expand our footprint, increase our production capabilities, and thereby provide greater value to our customers.”

The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals. Fabio Insalata will join the StatLab management team and continue to lead the Knittel business as Managing Director. Oppenhoff served as legal counsel to StatLab, and KPMG served as financial advisor to Knittel.

About StatLab Medical Products

Founded in 1976, StatLab Medical Products is a leading manufacturer of anatomical pathology consumables and labeling and tracking devices for clinical and research laboratories. StatLab's current manufacturing facilities in England, Wales and the USA support our goal of providing the most robust supply chain of high quality products for laboratories around the world. A customer-centric approach drives our commitment to reliability, innovation and quality in every interaction. Learn more at StatLab.com.

About Knittel

Knittel is one of the world's largest manufacturers of microscope slides and coverslips, produced in ISO13485 certified facilities and sold exclusively through distribution channels. With more than 35 years of experience, we are known for our high-quality German glass products, close collaboration with our customers, quality and operational innovation through automation. Learn more at KnittelGlass.com.

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Contacts
StatLab Medical Products
Jbaer@StatLab.com
630-346-1659

 

Source:businesswire.com

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