Moog Inc, a worldwide designer, manufacturer, and integrator of precision control components and systems, has acquired AITECS Medical UAB, a medical device manufacturer based in Lithuania for $21 million in cash.
Under the arrangement, the East Aurora-based publicly traded company will get 100% of the stock for AITECS Medical UAB.
AITECS Medical makes syringe-style infusion therapy pumps, and devices designed to give patients steady doses of intravenous drugs.
The move is an attempt to fill out the company's growing medical devices division, which currently includes infusion feeding pumps, surgical hand pieces and ambulatory infusion therapy pumps, a top company official stated.
According to sources, the Lithuania facility employs about 65 people, which will continue to produce the therapy pumps at its present location.
In addition, the official statement revealed that the company has no immediate plans to manufacture the devices in the United States.
Moog said its purchase of the Lithuanian company will lead to a gain of $6 million in revenue in fiscal 2009, whose customer base ranges from Russia to India to South America.
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