Big Deals Hit Device Suppliers, Too
This has been a banner year for blockbuster device industry deals. Over the holiday weekend, device suppliers got into the act, too.
Signapore's Flextronics International Ltd. acquired Avail Medical Products Inc. (Fort Worth, TX), one of the leading contract manufacturers to the device industry. Financial terms were not disclosed. This comes just after Flextronics'Â $3.6 billion purchase of contract electronics manufacturing firm Solectron Corp. received approval from European regulators.
The two deals signify Flextronics' desire to become a major player in the medical device industry.
Meanwhile, GE completed the sale of its plasticsÂ divisionÂ to Saudi BasicÂ Industries Corp. (SABIC), a petrochemicals manufacturer,Â for $11.6 billion. The plastics group sells resins into a variety of industries, including medical devices. Â