Essel Propack Ltd, a part of Essel Group has announced that its unit Tacpro Inc. USA, a subsidiary of Lamitube Technologies (Cyprus) Limited has acquired a U.S.-based medical devices supplier, Catheter and Disposables Technology (CDT), in an all-cash deal. The company did not disclose the financial details of the transaction.

Catheter and Disposables is a company based in Minneapolis, USA and undertakes business of medical devices. The company is a total solution provider from the concept to finished packaged sterile products.

The acquisition will be funded entirely from the internal accruals of the Medical Device Business. The acquisition is expected to be effective from April 01, 2008.

The deal will help the firm’s medical business to establish and expand operations in Minnesota, the second largest centre in the US for manufacturing medical devices.

Mumbai-headquartered, Essel Propack Limited, a specialty packaging company, engages in the manufacture and sale of laminated and seamless tubes for the oral care, cosmetics, personal care, pharmaceutical, food, and industrial sectors.

The company reported 9% decrease in net profit at Rs 11.02 crore for the quarter to December 2007. Its sales increased by 8% to Rs 87.80 crore.