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news.Moog, a manufacturer of precision control components and systems, has acquired 100% of the stock of Aitecs Medical, a Lithuanian-based manufacturer of syringe-style infusion therapy pumps, for E15 million, paid in cash.
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The acquisition is said to complement Moog’s current medical devices product line. This acquisition is expected to be neutral to Moog’s earnings per share for the year ending October 3, 2009 due to first year purchase accounting adjustments.
Martin Berardi, president of the medical devices group of Moog, said: “This acquisition is a great fit while broadening our product offering and geographic presence in the infusion therapy market.”