StatLab Medical Products (“StatLab”), a leading developer and manufacturer of medical diagnostic supplies and equipment, today announced that it has signed a definitive agreement to purchase Waldemar Knittel Glasbearbeitungs GmbH (“Knittel”), a leading manufacturer of microscope slides and cover glass and provider of engineering consulting services to the broader glass manufacturing industry. This business combination adds self-manufacturing capabilities for key slide and cover glass products to StatLab’s existing product portfolio and expands the global presence of the combined business with two additional locations in Germany.
Established in 1987 by entrepreneurial founder Waldemar Knittel in Braunschweig, Germany, Knittel is currently under the management of his daughter, Anika, and her husband, Fabio Insalata, CEO. The company is recognized as a leader in high-quality German glass products for anatomic pathology evaluations, including its flagship StarFrost slide brand. Under the leadership of Fabio, the Company prides itself on its attentive collaboration with customers and commitment to quality through innovation. Additionally, Knittel’s engineering consulting division has set new standards not only in its own operations, but for the entire glass industry through the application of innovative robotic automation to increase operational efficiency and quality. In conjunction with the transaction, Knittel will undertake planned investments in expanding its manufacturing capacity to better service its customers in the U.S. and Europe.
“Since 2021, StatLab has made significant investments to expand manufacturing capabilities and capacity, enhancing our ability to serve customers and transform our business. The addition of Knittel’s slide and cover glass offerings to StatLab’s product portfolio is an integral part of our strategy to become a differentiated leader,” said Joe Bernardo, Executive Chairman of StatLab.
Sung-Dae Hong, CEO of StatLab, added, “I look forward to collaborating with Fabio and the Knittel team to build on the legacy the Knittel family has established over two generations, together transforming the anatomic pathology industry.”
“Our decision to partner with StatLab represents a shared vision of rapid operational innovation, and we’re excited to invest into our team and operations here in Germany as well as collaborate with our U.S. counterparts,” said Fabio Insalata, CEO of Knittel. “I look forward to working with Dae, Joe, and the StatLab team to expand our footprint and increase our manufacturing capacity, delivering more value to our customers as a result.”
The transaction is expected to close during the fourth quarter of 2023, subject to regulatory approvals. Fabio Insalata will join the StatLab management team and continue to lead the Knittel business as Managing Director. Oppenhoff served as legal advisor to StatLab, and KPMG supported Knittel as financial advisor.
About Knittel
Knittel is one of the largest manufacturers of microscope slides and cover glass worldwide, produced in ISO13485-certified facilities and exclusively sold through distribution channels. With over 35 years of experience, our reputation for high-quality German glass products, attentive collaboration with customers, and quality and operational innovation through automation sets us apart. Learn more at KnittelGlass.com.
