SINGAPORE, Oct. 21 /PRNewswire-FirstCall/ -- Flextronics (Nasdaq: FLEX) is
expanding its medical disposables offering and has signed an agreement to
acquire Slomedical S.R.O through a share purchase agreement. Slomedical is a
leading European manufacturer of disposable medical devices ranging from
tubing sets to complex devices for minimally-invasive surgery. This deal is
expected to close before the end of the calendar year, pending required
regulatory clearances.
Upon completion, this strategic acquisition will expand Flextronics's overall
capability for medical disposables through Slomedical's low cost European
location in Slovakia and allow Flextronics to significantly advance its
disposables strategy throughout Europe.
"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."
In addition to today's announced planned acquisition of Slomedical,
Flextronics recently completed a major expansion of its Tijuana, Mexico campus
which is dedicated to disposable medical device manufacturing. Flextronics's
Tijuana campus now includes key vertical integration capabilities of plastic
injection molding and plastic extrusion as well as world class clean room
assembly operations. With the addition of these capabilities at its Tijuana
Medical campus, Flextronics is able to drive value for its customers through
lower costs and faster time-to-market.
"The major expansion of our Tijuana, Mexico campus and the imminent
acquisition of Slomedical will significantly expand our ability to serve the
global disposables medical device market for European and multi-national
customers," said Dan Croteau, president, Flextronics Medical. "Upon completion
of the deal, 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. On behalf of the Flextronics team, we
look forward to working with the Slomedical team to continue to grow our
businesses together."
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, industrial, infrastructure, medical and
mobile OEMs. 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.
SOURCE Flextronics
Warren Ligan, Investor Relations, +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
