August 30, 2007
Flextronics announced it plans to acquire privately-held Avail Medical Products, Inc., a market leader in disposable medical devices. Terms of the deal were not announced. The acquisition is anticipated to be completed before the end of 2007.
The acquisition will broaden Flextronics’ medical industry experience and services which are already expected to be further enhanced following the completion of its recently announced acquisition of Solectron.
Privately held Avail, based in Fort Worth, Texas, focuses on the outsourced development and manufacture of sterile and single-use medical devices for medical device makers. Avail expects 2007 sales of about $250 million.
Flextronics’ medical business segment is part of the Company’s industrial, auto, and ‘other’ segments (as reported by Flextronics) and comprises 11% of total Flextronics sales. This segment is expected to increase to over 12% once the Solectron and Avail acquisitions close which will further diversify Flextronics away from consumer electronics and create more balance.
The medical technology market is a traditional end-market for many electronics manufacturing services providers. The Avail acquisition will allow Flextronics to increase the range of service offerings to include design; manufacturing, and logistics of disposable medical devices, hand held diagnostics products, and drug delivery devices, as well as imaging; lab and life sciences equipment.
Source: Flextronics, industry contacts
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