Flextronics to Buy Medical Device Maker
Published: 30 August 2007
by Mike Buetow
SINGAPORE -- Flextronics has entered into a definitive agreement to acquire Avail Medical Products, a move that will "significantly broaden" the EMS firm's medical offerings. Avail is expected to generate approximately $250 million in sales in calendar 2007. Additional terms of the deal were not disclosed.
Privately held Avail makes disposable medical devices, including catheters, wound management and drug delivery devices. The acquisition is seen as a complement to Flextronics' pending acquisition of rival Solectron.
Following the two deals, Flextronics' medical unit will offer design, manufacturing and logistics of disposable medical devices, handheld diagnostics and drug delivery devices and imaging, lab and life sciences equipment.
Flextronics expects the acquisition will be neutral to the diluted earnings per share guidance for all periods previously provided.
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