IC Biomedical, which acquired Worthington Industries’ cryogenic freezer business for biomedical use and International Cryogenics (ICI) simultaneously at the end of last October, is now building a new plant integrating their production divisions in Cartersville, Jeorgia, US.

IC Biomedical is an affiliated company under the Milton Street Capital which is an investment fund (PE Fund) mainly targeting unlisted companies. It was established in 2020 to develop the cryogenic container business for the biomedical industry. In 2015, Worthington Industries acquired cryogenic container business (excluding cryogenic tanks and liquid gas containers for industrial use like freeze storage vessel or dry shipper) of the Tailor-Wharton brand for biomedical use, and has been developing the business with the new brand named “Life Sciences” at its production center in Mobile, Alabama.

ICI is a cryogenic container manufacturer established in 1980, having an influential power in the physical and chemical market particularly delivering liquid nitrogen dewar, liquid helium dewar and cryostat from its production base in Indianapolis, Indiana. IC Biomedical taking over the two business divisions has appointed Steve Shaw as CEO and Jim Hoppel as CFO for management. Steve Shaw has over 25 years of cryogenic biomedical market experience that includes president of Chart Industries’ former BioMedical Group, while Jim Hoppel was formally the CAO and vice president in charge of the corporate development at Chart and CFO at Taylor-Wharton.

Part of the new plant has already been completed, and the production division of Warthinton’s small-sized aluminum container seems to have already been transferred to the new plant. It is expected that all of the production departments will be transferred to the new plant for an integrated production formation.