Electronics Production | January 28, 2008
Flextronics completes acquisition of Avail
Flextronics has completed the previously announced acquisition of Avail Medical Products Inc., a privately-held, manufacturing disposable of medical devices.
As a division of the Flextronics Medical segment, Avail will continue to operate as a stand-alone business. Flextronics Medical segment is one of the fastest growing Flextronics segments focused on providing outsourced design, manufacturing and logistics services to the medical device and equipment marketplace, including consumer diagnostic devices, lab and life science equipment, imaging and patient monitoring equipment, hospital beds, and drug delivery devices. With the combination of continued strong organic growth and the acquisition of Avail, Flextronics Medical expects to generate $850-$950 million in revenue in the fiscal year ending March 31, 2009, which represents a year-over-year expected growth rate of 90%. "The acquisition of Avail expands our existing global design and manufacturing capabilities creating a more robust and competitive offering that now includes a wide range of disposable medical devices such as catheters, wound management and drug delivery devices. The addition of Avail establishes Flextronics as a leading supplier and partner for the medical industry," said Dan Croteau, president, Flextronics Medical. "This is a highly strategic acquisition for Flextronics and I am pleased to welcome the talented Avail staff to our organization."