SINGAPORE -- Flextronics has signed an agreement to acquire Slomedical S.R.O through a share purchase agreement. The deal is expected to close before the end of the calendar year, pending required regulatory clearances.

Slomedical manufactures disposable medical devices ranging from tubing sets to complex devices for minimally-invasive surgery.

The acquisition will expand Flextronics's overall capability for medical disposables through Slomedical's location in Slovakia and allow Flextronics to significantly advance its disposables strategy throughout Europe, the company said in a press statement.

"We evaluated many companies to determine the best fit for the acquisition of our organization. Flextronics is the ideal organization based on its ability to augment our current capabilities and its significant market strength in the medical space," said Frank Sodha, managing director, Slomedical. "We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with a larger organization such as Flextronics. We are all very excited and look forward to working with the team."

Flextronics Medical president Dan Croteau added, "We look forward to expanding Slomedical's well-established, low-cost operations and investing in additional manufacturing capabilities, quality systems and design services to deliver more value, lower costs and faster time-to-market to our customers."