NY company buys Lead-Lok
<p>Since Jim Healy started Lead-Lok in 1986, the company has increased the size and complexity of its manufacturing capabilities. The company was sold to New York-based Graphic Controls. (Photo by CAMERON RASMUSSON)</p>
SANDPOINT — Lead-Lok officials see greater heights and more local jobs in the future following its acquisition by New York-based company Graphic Controls.
A biomedical technology business based in Sandpoint, Lead-Lok has established itself as a leading manufacturer of innovative electrodes and patient monitoring devices. Its patented technology attracted the eye of medical giant Graphic Controls, which finalized an acquisition agreement with company leaders earlier this month. Graphic Controls now owns Lead-Lok USA and BioLeadLok B, the company’s Warsaw, Poland, facility. Prior to the sale, Lead-Lok sold its operations in Shanghai, China.
According to Lead-Lok President and CEO Chris Healy and founder Jim Healy, the move should open the company to faster growth while utilizing the advantages of Graphic Control’s global business network.
“Graphic Controls was for us the best choice because they’re committed to leaving the company here in Sandpoint,” Chris Healy said.
The acquisition marks a turning point in the history of Lead-Lok. The company has fulfilled the potential that grew it from a small start-up established in 1986 to a thriving manufacturer with more than 100 employees. With the sale, the company now has the financial resources to honor their stockholders, too.
“All investors want a return on their investment, and there comes a time when they want to see some liquidity,” Jim Healy said.
While the move is sure to make business partners happy, the Healys said the acquisition bodes well for the rest of Sandpoint, too. While they couldn’t offer precise numbers about planned expansion, they said it will allow for an accelerated growth rate.
“We value our employees and would like to emphasize that this new venture will provide added opportunities for them,” Jim Healy said.
The pairing of Lead-Lok and Graphic Controls has great promise for the companies’ business interests. The two feature complementary supplies and components that should simplify the manufacturing process. Meanwhile, Graphic Controls’ offices throughout the U.S., Canada, the United Kingdom and continental Europe expand Lead-Lok’s reach across the globe.
Post-acquisition, Jim Healy will remain available to Lead-Lok as a technical consultant. However, his primary attentions are devoted to his new company, Northwest Bio, as he continues to explore the frontiers of medical technology.
While the business agreement is big news for the company, Chris Healy remains focused on Lead-Lok’s established goals. Medical technology is a rapidly-evolving field and requires nimble management to keep ahead of the game. For instance, Lead-Lok has invested vast resources into modular robotic technology that minimizes labor costs and keeps manufacturing on American soil.
That’s how Lead-Lok plans to incorporate new ideas and advanced technology into their product. One recent effort is the Smart Patch, an electrode with computational capabilities already attached. This allows for detailed, precise patient monitoring capabilities, even from a distance. Lead-Lok’s technology opens doors to monitoring brain activity, oxygen levels, blood flow and other essential body functions. Meanwhile, applications like muscle stimulation, pain management, nerve path detection and wound care products are all available at a doctor’s fingertips.
In a world flush with smartphones and sophisticated home technology, Lead-Lok’s products could be a game-changer for the way doctors treat and monitor their patients. Chris Healy is excited to work with Graphic Controls in realizing that vision.
“We’ve come a long way, but we could not have done it without our employees,” he said.