Read the Conversation
Meeting Highlights:
- Strategic CDMO Evolution: Suj highlighted the December 2023 acquisition of Seisa Medical. This pivotal acquisition marked TekniPlex Healthcare’s transformation into a fully integrated, global CDMO—capable of supporting customers from early design through final delivery. With over 20 strategic acquisitions completed to date, the division’s capabilities now span from upstream design and prototyping through to cleanroom assembly and final packaging.
- Core Differentiator – Materials Science: Materials science is at the heart of TekniPlex Healthcare’s strategy—it’s what enables the business to engineer innovation, solve complex challenges, and help deliver safer, more effective outcomes for patients. The division’s strength lies in its deep material science expertise—precision metalworking, formulations, chemistry, and polymer processing—allowing it to co-engineer tailored solutions with customers for complex medical devices and drug delivery systems.
- Costa Rica as a Flagship Location: TekniPlex Healthcare entered Costa Rica in 2013 as an early pioneers, following customers to provide local support. Today, Cartago is a flagship site for tubing manufacturing and recently underwent a 55,000 sq. ft. expansion to broaden the business’s cleanroom and sub-assembly capabilities.
- Global Reach for Supply Continuity: TekniPlex Healthcare has a presence in 24 dedicated healthcare manufacturing locations with 3,000 employees across North America, Europe (Belgium, Italy, Northern Ireland, Slovakia), China, and Costa Rica. As a global company, TekniPlex operates across 60 locations. This global footprint helps mitigate tariff exposure and supply chain risks—factors customers increasingly value.
- Healthcare Industry Trends: Suj spoke to the rising demand for minimally invasive therapies, the industry’s trend toward supplier consolidation, and how TekniPlex is positioned to be a one-stop partner that delivers both scale and customization.
- Leadership and Culture: Suj emphasized how energized he is by the team—particularly the pride, passion, and technical excellence of the team in Costa Rica. His vision is one of growth, innovation, and patient impact, rooted in the strength of our culture.
- Future Outlook: As the healthcare market stabilizes post-COVID, Suj’s goal is for TekniPlex to be recognized as a trusted partner helping customers navigate change, innovate faster, and deliver better outcomes globally.
EF: Congratulations on your recent appointment. Could you elaborate on the mission you’ve set for yourself and your current priorities?
SM: I assumed leadership of the business earlier this year, although I have been with TekniPlex since 2009. Throughout my tenure, I have contributed to the company’s significant growth, leading M&A and acquisition initiatives and our forward-looking strategy. We have completed over 20 acquisitions in the healthcare and consumer product sectors, which have been instrumental in strengthening our capabilities and solidifying our market position.
As I guide the company into a new era, my priorities are shaped by the new capabilities we have acquired, most notably through our recent acquisition of Seisa Medical in December 2023. This pivotal acquisition has transformed TekniPlex Healthcare into a true CDMO player. My focus is on deepening customer relationships and partnerships and delivering a comprehensive end-to-end solution—from design and development to final product packaging. This positions us as a strong partner for our customers, ensuring we consistently deliver optimal value for their success.
EF: Can you elaborate on the importance of the healthcare division to TekniPlex and how strategic this business is to the group?
SM: When considering the healthcare division, it’s important to note that our core differentiator is materials science. Our team includes polymer scientists and chemical engineers, which is quite distinct from many competitors. Our business started with formulations, chemistry, and polymer science – and now includes precision metalworking since the Seisa acquisition. Materials science is central to how we develop solutions and allows us to help customers select the right materials and processing technologies. This foundation – and expertise - enable us to create innovative solutions that customers may not be able to achieve on their own, and in turn, allow us to deliver critical solutions for medical and pharmaceutical products.
EF: Could you discuss the different regions where TekniPlex operates and how the company leverages its global footprint?
SM: One of TekniPlex’s key advantages has always been our global geographic footprint. We have a strong presence in North America, with a significant number of plants across the US and recent expansions into Mexico and Latin America. In Europe, our operations span from Belfast to Belgium, Slovakia and Italy, with multiple manufacturing plants across the region. We also have plants in China and a sister plant in India for consumer products.
Our location is strategically selected to optimize service, ensure continuity, and align closely with our customers' regional needs. Each region is selected for its strategic value, ensuring we can provide the best possible service and solutions.
EF: What is the importance of Costa Rica within TekniPlex’s global strategy?
SM: Costa Rica is a key location for us. We established our presence there in April 2013 and were among the very first to do so. The country offers access to talent, technology, and raw materials, and it plays a critical role in balancing the various aspects of our supply chain. Our Costa Rica operations are integral to our ability to serve customers both regionally and globally. This move was primarily driven by our customers’ needs; we followed them here because they required a local partner and supplier.
The local development authority provided incredible support, and the government was clearly committed to growing the MedTech sector. Now, 12 years later, Costa Rica has become one of TekniPlex Healthcare’s global centers of excellence—particularly for our tubing innovation and cleanroom assembly capabilities. It’s a prime example of how we follow our customers and invest locally to serve globally. We recently expanded our facility by over 55,000 square feet to enhance our local capabilities and strengthen partnerships with our customers.
EF: In terms of Strategic Trends in Medtech and Supply Chain, what are the major trends you’re seeing?
SM: Broadly, the healthcare market is being driven by the need for more minimally invasive devices. There’s a clear trend away from traditional, invasive procedures toward stents, catheters, and even therapies that can be delivered as drugs rather than surgeries. This trend is fueling MedTech innovation.
In terms of supply chain, we’re seeing an industry shift toward supplier consolidation—customers are seeking strategic partners who can offer integrated solutions across the value chain, reduce complexity, and deliver consistently across regions. Customers prefer working with fewer partners who can offer a broader suite of solutions, rather than managing hundreds of suppliers for small components. This consolidation allows them to leverage buying power and streamline sourcing. Another significant trend is the need for suppliers with a global footprint—partners who can deliver consistently across multiple regions, helping to mitigate risks associated with tariffs, offshoring, and nearshoring.
EF: How would you describe your leadership style, especially given the global scope of your responsibilities?
SM: Leading a global organization is both rewarding and challenging. I’ve been with the business for over 16 years, which has given me deep insight and passion for what we do. With over 24 manufacturing plants and 3,000 employees in our healthcare division alone, the responsibility is significant. My leadership style centers on setting the right strategy for the business, ensuring we’re making informed decisions for the future, and empowering our teams.
I can’t do this job without the amazing people around me. Visiting our global locations and seeing the pride and passion our teams have is what keeps me energized. Ultimately, it’s about creating a vision, guiding the organization strategically, and fostering a culture where our people feel valued and motivated.
The people are the core of a company, and without a great team, a company cannot succeed. Of course, effective leadership is important. It’s very humbling and empowering at the same time. I focus on setting a clear strategy, empowering our teams, and fostering a culture of accountability, innovation, and shared purpose.
EF: Looking ahead, how would you want to celebrate your first year as CEO?
SM: Recently, one of the most significant developments in the medical and broader markets has been the ongoing stabilization following the post-COVID era. The industry has faced numerous challenges, including supply chain disruptions, tariffs, and product shortages, making the past few years particularly difficult.
Looking ahead, I hope that within the next year, we will see a return to growth and a resolution of these supply chain issues. Most importantly, I aspire for our customers to recognize and appreciate our partnership—supporting them through these challenges and enabling them to excel as suppliers and providers of MedTech and pharmaceutical devices. If our efforts are reflected in the success and satisfaction of our customers, that would truly be a reason to celebrate.
EF: Is there a final message you would like to share?
SM: At TekniPlex Healthcare, our purpose is clear: helping improve patient lives through collaboration, innovation, and a deep commitment to quality. It’s a responsibility we take seriously, and one we strive to fulfill every day, even amid global challenges. The only way to truly achieve this is through partnership, collaboration, and innovation. Companies need to be strategic in merging resources and creating deeper partnerships and relationships that make the world better. That’s our global message: how do we improve patient lives? That’s the ultimate goal.
Health must go on, every time, even in a crisis. Health is one of the most central parts of everyone’s life, and our work must continue regardless of the challenges. Thank you for the opportunity to share these insights.
