East Aurora, NY — Moog Inc. (NYSE: MOG.A and MOG.B ) announced today that it has acquired 100% of the stock of AITECS Medical UAB, a Lithuanian-based manufacturer of syringe-style infusion therapy pumps, for 15 million pounds ($21 million), paid in cash. Founded in 1993, AITECS has a product portfolio that includes pumps for general hospital use, operating rooms and patient controlled analgesia.
The acquisition complements Moog’s current medical devices product line. “This acquisition is a great fit while broadening our product offering and geographic presence in the infusion therapy market,” said Martin Berardi, President of the Medical Devices Group of Moog.
Sales for AITECS will be approximately 4 million pounds ($6 million) for the balance of Moog’s fiscal year 2009. 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.