Flextronics Completes Acquisition of Avail
SINGAPORE, Jan. 28 -- Flextronics (NASDAQ:FLEX) today announced that it has completed the previously announced acquisition of Avail Medical Products Inc., a privately-held, market leader in manufacturing disposable 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."
About Flextronics
Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. With the acquisition of Solectron, pro forma fiscal year 2007 revenues from continuing operations are more than US$30.0 billion. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit www.flextronics.com.
FCMN Contact: renee.brotherton@flextronics.com
Source: Flextronics
CONTACT:
Thomas J. Smach
Chief Financial Officer
+1-408-576-7722
investor_relations@flextronics.com
or
Renee Brotherton
Vice President
Corporate Communications
+1-408-576-7189
renee.brotherton@flextronics.com
both of Flextronics
Web site: www.flextronics.com/
