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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
R. Jeffrey Bailly ExecutiveBoard | Chairman and Chief Executive Officer | None | R. Jeffrey Bailly has been with UFPT since 1988, serving as CEO since 1995 and Chairman since 2006. He has a background in operations, accounting, and finance. | View Report → |
Christopher P. Litterio Executive | General Counsel, Secretary, and Senior Vice President of Human Resources | None | Christopher P. Litterio joined UFPT in 2017, overseeing legal matters and human resources. He has a background in business litigation and employment law. | |
Jason Holt Executive | Vice President and Chief Commercial Officer | None | Jason Holt joined UFPT in 2018 and is responsible for the Advanced Components business. He previously held leadership roles at Illinois Tool Works. | |
Mitchell C. Rock Executive | President | Board Member at Outlook Amusements, Inc. | Mitchell C. Rock joined UFPT in 1991 and became President in 2024. He has led various sales and marketing roles and was President of UFP MedTech. | |
Ronald J. Lataille Executive | Chief Financial Officer and Senior Vice President | None | Ronald J. Lataille joined UFPT in 1997 as CFO. He has extensive experience in financial management and strategic growth. | |
Steven G. Cardin Executive | Vice President and Chief Operating Officer, MedTech | None | Steven G. Cardin joined UFPT in 2019, bringing 28 years of experience in the medical device industry. He focuses on cleanroom manufacturing and medical device production. | |
Cynthia L. Feldmann Board | Director | Board Member at Alexandria Real Estate Equities, Inc. and STERIS PLC; Trustee at Falmouth Academy | Cynthia L. Feldmann has been a director at UFPT since 2017. She has a background in accounting, finance, and public company governance. | |
Daniel C. Croteau Board | Director | Board Member at Corza Medical, Resonetics, and Inventus Power | Daniel C. Croteau has been a director at UFPT since 2015. He has extensive experience in the medical device industry and has held various leadership roles. | |
Joseph John Hassett Board | Director | Senior Vice President and Chief Transformation Officer at Analog Devices Inc. | Joseph John Hassett has been a director at UFPT since 2022. He has a background in strategic and operational leadership, particularly in integrating large business acquisitions. | |
Marc Kozin Board | Director | Chairman of Vascular Biogenics; Board Member at Healthcare Royalty Partners | Marc Kozin has been a director at UFPT since 2006. He has a background in strategic planning and leadership consulting. | |
Symeria Hudson Board | Director | President and CEO of United Way Miami; Executive Board Member at MTF Biologics; Operating Advisor at Revival Healthcare Partners | Symeria Hudson has been a director at UFPT since 2022. She has leadership experience in healthcare and nonprofit sectors. | |
Thomas Oberdorf Board | Director | CEO and Chairman of SIRVA, Inc. | Thomas Oberdorf has been a director at UFPT since 2004. He has extensive experience in finance and public company operations. |
Research analysts who have asked questions during UFP TECHNOLOGIES earnings calls.
Andrew Cooper
Raymond James
4 questions for UFPT
Brett Fishbin
KeyBanc Capital Markets
4 questions for UFPT
Jaeson Schmidt
Lake Street Capital Markets
4 questions for UFPT
Justin Ages
CJS Securities
4 questions for UFPT
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
AQF Medical | 2024 | Completed on August 23, 2024, with an aggregate cash purchase price of €43.0 million (≈$47.8 million) subject to working capital and liability adjustments (approx. $900,000 downward adjustment); the deal, valued at 12.3x adjusted EBITDA, expands UFP’s expertise in custom-engineered foam/thermoplastic components and includes a joint venture in Asia. |
Welch Fluorocarbon | 2024 | Completed on July 15, 2024, for a base price of $34.6 million in cash with up to an additional $6.0 million contingent consideration (fair valued at about $800,000) and a working capital adjustment of around $200,000; the acquisition, including a $3.2 million real estate purchase, adds thermoformed, heat-sealed implantable device components to UFP’s MedTech portfolio. |
AJR Enterprises | 2024 | Completed on July 1, 2024, with a $110 million cash purchase price subject to working capital adjustments and an escrow for indemnification; the acquisition of a manufacturer specializing in single-use safe patient handling systems strategically broadens UFP’s offerings in patient surfaces and transfer devices, financed via UFP’s amended credit agreement. |
Marble Medical | 2024 | Completed on June 24, 2024, for an initial cash payment of $4.5 million with additional contingent consideration of up to $0.5 million, representing approximately 4.5x adjusted EBITDA; the deal brings capabilities in biocompatible adhesives and precision die-cutting, and includes the acquisition of manufacturing, warehouse, and office real estate. |
Advant Medical Ltd. | 2022 | Completed on March 16, 2022, with a purchase price of €19.0 million (≈$21.2 million) in cash plus working capital adjustments; the acquisition enhanced UFP’s medical device manufacturing (clean room and injection molding capabilities) and added customer relationships and assets (including $7.14 million in goodwill), aligning with its MedTech strategy. |
DAS Medical | 2021 | Completed on December 22, 2021, with a total estimated cost of approximately $105 million (including $75 million cash, a $20 million earn-out potential, and $10 million held in escrow) and non-competition agreements; the deal strengthens UFP’s position in single-use surgical covers, robotic drapes, and fluid control pouches while expanding its manufacturing footprint. |
Contech Medical | 2021 | Completed on October 12, 2021, for a base price of $9.5 million in cash plus an additional $5 million contingent on EBITDA targets; the acquisition provides enhanced Class III medical device packaging capabilities with significant customer overlap (70% of its customers already served by UFP), expected to be immediately accretive to earnings. |
Recent press releases and 8-K filings for UFPT.
- UFP Technologies reported Q3 2025 sales growth of 6.5% to $154.6 million, with its medtech business growing 7.3% despite a 23% decline in patient services and support from its AGR Stryker business.
- The company faced a $3 million reduction in gross profit and operating income and a 28% reduction in diluted EPS in Q3 2025 due to labor inefficiencies at its AGR Illinois facility, which also resulted in over $8 million in unfulfilled orders.
- Robotic surgery revenue increased 5.1%, with two significant new programs expected to generate greater than $10 million in 2026, and discussions are ongoing to extend and significantly increase volumes for a $500 million contract with its largest customer.
- UFP Technologies generated $35.9 million in cash from operations and paid down approximately $17.5 million in debt during Q3 2025, achieving a leverage ratio well below 1.5 times.
- UFP Technologies reported Q3 2025 sales of $154.6 million, a 6.5% increase from Q3 2024, with MedTech sales growing 7.3%. Year-to-date sales through September 30, 2025, increased 26.0% to $453.9 million.
- Net income and diluted EPS remained flat at $16.4 million and $2.11, respectively, for Q3 2025 compared to Q3 2024, primarily due to $3 million in incremental labor costs and over $8 million in unfulfilled orders at the Illinois AJR facility.
- The company is advancing strategic initiatives, including the launch of new robotic surgery programs and the transfer of programs to its new Dominican Republic facility, with recent acquisitions performing ahead of expectations.
- UFP Technologies reported Q3 2025 sales of $154.6 million, a 6.5% increase from Q3 2024, with year-to-date sales reaching $453.9 million, up 26.0% from the prior year period.
- Net income for Q3 2025 was $16.4 million, or $2.11 per diluted common share, matching Q3 2024 results. Adjusted earnings per diluted share for the quarter were $2.39.
- The company's MedTech sales grew 7.3% to $142.4 million in Q3 2025, while non-medical sales decreased 2.7%.
- Operating results in Q3 2025 were impacted by approximately $3 million in incremental labor costs at the Illinois AJR facility, which offset EPS growth.
- UFP Technologies (UFPT) is a Contract Development Manufacturing Organization (CDMO) in the medical device sector, with a market capitalization of close to $2 billion and $600 million in total revenue, of which $550 million is medical revenue.
- The company operates in a $100 billion medical device outsourcing market, which is growing at 10-11%. UFPT's strategy includes organic growth and strategic acquisitions, having completed 9 deals in the med tech space since 2021, which has driven medical revenue from $132 million in 2021 to $540 million trailing 12 months.
- UFPT provides 3-5 year financial targets of 12% to 18% revenue growth, 28% to 31% gross margins, and 17% to 20% adjusted operating margin, targets it has exceeded in recent years.
- Key differentiators include over 100 engineers providing technical value and strong supplier relationships, operating in a highly regulated space that creates barriers to entry.