Bodycote Expands Its Medical Market Reach with Acquisition
Bodycote has acquired Lake City Heat Treating, based in Warsaw, Indiana, and is a medical market provider of hot isostatic pressing (HIP) and vacuum heat treatment services.
Bodycote has acquired Lake City Heat Treating, which was successfully completed on Jan. 19, 2024. Lake City Heat Treating, based in Warsaw, Indiana, is a medical market provider of hot isostatic pressing (HIP) and vacuum heat treatment services, primarily supplying the orthopedic implant market as well as civil aerospace.
Lake City Heat Treating is forecast to have achieved 2023 full year revenues of around $14 million (£11 million). The business revenue grew 30% in 2023 and looking ahead is expected to continue to deliver good progress.
The company’s constant growth reflects the high-quality business that has successfully gained share among distinguished medical and aerospace OEMs. The acquisition fits perfectly with Bodycote’s strategy to grow its Specialist Technologies businesses.
The addition of Lake City Heat Treating’s medical expertise increases Bodycote’s customer reach in the medical market, along with the range of specialist thermal processing and heat treatment solutions available to the medical and aerospace industries.
