H.B. Fuller has announced the acquisition of two leading medical adhesive technology companies: Medifill Ltd. and GEM S.r.l. These acquisitions are part of the company’s strategy to solidify its position in the medical adhesive sector and expand its global presence.
Strategic Integration and Market Growth
Medifill Ltd., an Irish company specializing in medical-grade cyanoacrylate adhesives, brings advanced clean room manufacturing capabilities to the table. With a focus on next-generation formulations tailored for the wound closure market, Medifill offers solutions that ensure fast, safe, and effective wound treatment. The company’s expertise aligns perfectly with H.B. Fuller’s mission to innovate within the healthcare adhesive space.
GEM S.r.l., based in Italy, is recognized as a leader in medical adhesives and application devices, offering solutions certified for over 80 internal medical applications. This acquisition establishes a European headquarters for H.B. Fuller’s Medical Adhesive Technologies (MAT) division, enhancing its ability to serve diverse markets. GEM’s portfolio strengthens H.B. Fuller’s focus on highly profitable, high-growth markets within the medical industry.
Building a Comprehensive Medical Adhesive Business
These acquisitions build on H.B. Fuller’s earlier investments in the tissue adhesive market. Past acquisitions include Cyberbond in 2016, Tissue Seal in 2021, and Adhezion Biomedical in 2023. Together, these investments create a robust Medical Adhesive Technologies business, leveraging H.B. Fuller’s expertise in cyanoacrylate chemistry.
“Tissue adhesives designed for internal use provide innovative alternatives to traditional methods like sutures and staples,” stated Celeste Mastin, H.B. Fuller President and CEO. “The addition of GEM and Medifill, along with our previous acquisitions, solidifies our position in this innovative field and extends our global reach.”
The combined operations of GEM and Medifill are expected to generate €23 million in net revenue and €11.5 million in adjusted EBITDA for 2024. The acquisitions will integrate into H.B. Fuller’s Hygiene, Health & Consumable Adhesives Global Business Unit. These transactions are valued at €180 million, with post-synergy EBITDA projected to improve significantly within three years.
Regulatory Approval and Future Prospects
While the acquisition of Medifill has been finalized, the purchase of GEM remains subject to customary closing conditions and regulatory approvals, with a projected completion date in February 2025. The inclusion of these companies will enhance H.B. Fuller’s capacity to deliver innovative medical solutions, strengthen its technical and operational capabilities, and drive growth across global markets.
About H.B. Fuller and GEM
H.B. Fuller, a leading name in adhesives and sealants, operates with the mission to “Connect What Matters.” With a history dating back to 1887, the company employs over 7,500 team members across 140 countries, delivering advanced solutions across 30 market segments. GEM S.r.l., founded in 1994, focuses on the development and distribution of innovative medical adhesives and devices in over 40 countries, offering products like Glubran 2 and Glubran Tiss 2.
