GEON Performance Solutions, a global leader in the formulation, development, and manufacture of performance polymer solutions, has acquired Foster Corporation, a differentiated compounder of biomedical polymers used in the high-growth healthcare and medical device industry.

This acquisition enhances GEON’s participation in the high-value medical market. Currently, GEON offers rigid and flexible polyvinyl chloride (PVC) solutions, thermoplastic elastomer (TPE) solutions, and contract manufacturing services to healthcare customers. With Forster Corp., the company expands its formulation, development, and production of custom medical compounds, implantable materials, engineered polymers, thermoplastic polyurethane elastomers, and polymer enhancements offerings. 

This is GEON’s fourth acquisition since 2020 and its second acquisition in the last year. In gaining Forster Corp., GEON enhances and diversifies its portfolio of engineered polymer solutions and further expands its global footprint for customers. 

“This strategic acquisition broadens GEON’s portfolio of medical polymer solutions to offer a full spectrum of materials to medical companies,” said GEON CEO Tracy Garrison. “Foster Corporation has an impressive 36-year track record of delivering highly innovative, market-leading technologies for life-saving medical devices. We are privileged to partner with their team to further strengthen and expand this tradition of excellence.”

Foster Corporation is headquartered in Putnam, Connecticut, and has supply partnerships in Europe and Southeast Asia. It is also ISO 13485:2016 certified and offers a range of services in clean and white room manufacturing facilities.

“GEON is the ideal partner to leverage Foster’s strengths and augment its capabilities to better serve unique customer needs,” said President and CEO of Foster Corporation, Larry Acquarulo. “We are proud that Foster’s commitment to quality and innovation will live on with GEON.”

In December of 2023, GEON acquired Polymax, adding thermoplastic elastomer to its material portfolio.

Benesch, Friedlander, Coplan, & Aronoff LLP acted as legal counsel for GEON. NorthView Advisors, LLC served as investment advisor to GEON. Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. served as legal counsel for Foster, and Covington Associates, LLC served as the company’s investment advisor.