Irish-based company brings new products, manufacturing
capabilities in high-value healthcare materials business
GLENDALE, Calif.--(BUSINESS WIRE)--May 22, 2017--
Avery Dennison Corporation (NYSE:AVY) announced today that it has
acquired Finesse Medical Ltd., an innovator in the development and
manufacture of healthcare products used in the management of wound care
and skin conditions.
Headquartered in Longford, Ireland, Finesse Medical specializes in the
development and application of advanced technologies in wound care and
skin treatment, including skin barrier films and protection creams, and
silicone and polyurethane foam wound dressings. With revenue over the
last year of approximately €15 million, the company is a key supplier to
global healthcare-product OEMs and also provides contract manufacturing
and product development services.
“Finesse Medical is a top quality manufacturer with a strong track
record for developing and commercializing effective, high-value products
in the medical sector,” said Mitch Butier, Avery Dennison’s president
and CEO. “This acquisition will accelerate the achievement of our
long-term strategic and financial goals for our industrial and
healthcare materials segment.”
“Finesse Medical is a great strategic fit with Vancive Medical
Technologies,” added Mike Johansen, vice president and general manager
of Avery Dennison’s Industrial and Healthcare Materials group. “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.”
“Uniting our two healthcare businesses is a strategic win for both
organizations and our global customer base,” said Martin Dowd, director,
marketing & business development, at Finesse Medical. “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 U.S. 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 (NYSE: AVY) is a global leader in pressure-sensitive and
functional materials and labeling solutions for the retail apparel
market. The company’s applications and technologies are an integral part
of products used in every major industry. With operations in more than
50 countries and more than 25,000 employees worldwide, Avery Dennison
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. Learn more at www.averydennison.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170522005233/en/
Source: Avery Dennison Corporation
Avery Dennison Media Contact
Rob Six, 626-304-2361
rob.six@averydennison.com
or
Avery
Dennison Investor Relations Contact
Garrett Gabel, 626-304-2399
investorcom@averydennison.com