Avery Dennison Corporation has announced the acquisition of Finesse Medical, a developer and manufacturer of healthcare products used in the management of wound care and skin conditions.
Headquartered in Ireland, Finesse Medical specialises in the development and application of advanced technologies in wound care and skin treatment, including skin barrier films, protection creams, and foam wound dressings.
With revenue over the last year of approximately €15 million, the company is a key supplier to global healthcare-product original equipment manufacturers (OEM) and also provides contract manufacturing and product development services.
Avery Dennison’s president and CEO Mitch Butier said: "Finesse Medical is a top quality manufacturer with a strong track record for developing and commercializing effective, high-value products in the medical sector.
"This acquisition will accelerate the achievement of our long-term strategic and financial goals for our industrial and healthcare materials segment."
Vice-president and general manager of Avery Dennison’s Industrial and Healthcare Materials group Mike Johansen said: "Finesse Medical is a great strategic fit with Vancive Medical Technologies.
"Its innovative portfolio of silicone gels and polyurethane foam dressings builds on and complements our existing products in wound care. And its converting and packaging capabilities will enable us to offer expanded manufacturing services to our customers."
Director of marketing and business development at Finesse Medical Martin Dowd said: "Uniting our two healthcare businesses is a strategic win for both organizations and our global customer base.
"Our companies share a strong commitment to quality, service and innovation. Avery Dennison brings important new strengths to our business, including key relationships in the US healthcare industry, new global sales and distribution channels for our products, and coating and roll manufacturing expertise that deepens our service offerings."
About Avery Dennison
Avery Dennison provides pressure-sensitive and functional materials and labelling solutions for the retail apparel market.
With operations in more than 50 countries and more than 25,000 employees worldwide, the company serves customers in the consumer packaging, graphical display, logistics, apparel, industrial, and healthcare industries.
Headquartered in Glendale, California, the company reported sales of $6.1 billion in 2016.