Japan's NGK Spark Plug to buy U.S. medical device maker

Auto parts supplier's MGC Diagnostics deal part of push to branch out

NGK, whose main business is making automotive spark plugs, will expand its medical device operations with an acquisition of a U.S. company.

KANAME UMENO, Nikkei staff writer

November 29, 2022 01:43 JST

TOKYO -- Japanese auto parts manufacturer NGK Spark Plug said Monday that it will purchase MGC Diagnostics Holdings, a U.S. medical device maker, in a deal worth $170.2 million.

NGK will make the acquisition through its U.S. subsidiary Caire, which produces oxygen concentrators. Once the transaction closes on Dec. 30, MGC will become a wholly owned subsidiary of Caire.