Irish-based company brings new products, manufacturing capabilities in high-value healthcare materials business
GLENDALE, CA – 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.