On February 28, 2008, Flextronics (FLEX in NASDAQ) announced a business deal with Avail Medical Products Inc. The announcement stated that Flextronics had acquired Avail Medical Products Inc., a leading provider of disposal medical services.
The deal was designed to strengthen the medical segment of Flextronics, a leading provider of electronics manufacturing services.
Profile of Avail Medical Products Inc.
Four companies, Strucmeyer Corporation, Centrex Precision Plastics, Horizon Medical and Pacific Device, formed Avail Medical Products Inc.
The company became a leading provider of design and manufacturing solutions for disposable medical devices.Avail Medical Products Inc. operates in different locations such as Europe, Mexico and China.
The headquarters of Avail Medical Products Inc. is situated in Fort Worth, Texas.
Details of the Acquisition
The acquisition will help the medical segment of Flextronics to enhance its manufacturing capacity. Flextronics, which is a leading provider of electronics manufacturing services, will be able to establish itself as a major supplier of medical devices.
Flextronics hopes to experience a significant increase in its revenue. According to company estimations, the medical segment of Flextronics may reach the level of $950 million in the fiscal year that will end on March 31, 2009. If Flextronics Medical is able to generate the estimated revenue level, the segment will experience a 90% year to year growth rate.