Private equity firm Salt Creek Capital has closed its acquisition of MML Diagnostics Packaging, a Troutdale, Oregon specialist that manufactures and packages in‑vitro diagnostic and single‑use medical devices. The deal, whose financial terms remain undisclosed, adds a longstanding OEM to Salt Creek’s growing healthcare portfolio. The purchase targets high‑margin, regulated medical sectors for growth.

Alongside the purchase, longtime operations leader Geoffrey Pestes received a promotion to chief executive officer. Pestes, who joined MML in 2014 after a decade in senior roles, will steer the company as it integrates with Salt Creek’s broader strategy to consolidate fragmented med‑tech suppliers. His appointment signals continuity for customers and staff amid the ownership change. The board endorsed the move unanimously.

The acquisition broadens Salt Creek’s exposure to the fast‑growing diagnostics segment, where demand for single‑use kits is rising amid supply‑chain pressures. Retaining MML’s historic brand and facilities should help preserve existing contracts with major lab operators. Investors can now assess how the combined platform leverages scale to improve margins in a competitive market.