Celestica to expand healthcare capabilities through acquisition of Allied Panels

Acquisition to broaden Celestica's product lifecycle solutions for customers in the healthcare diagnostics and imaging market

Celestica Inc. (NYSE, TSX: CLS) announced it has signed a definitive agreement to acquire Allied Panels Entwicklungs-und Produktions GmbH ("Allied Panels"), a leading medical engineering and manufacturing service provider, offering concept-to-full production solutions, with a core focus on diagnostic imaging products.

The acquisition of Austria-based Allied Panels will significantly expand Celestica's capabilities in the healthcare diagnostics and imaging market. The company provides services such as electro-mechanical design, firmware and software development, and high-level assembly for subsystems and complex medical devices to some of the world's leading healthcare original equipment manufacturers. Allied Panels also brings expertise in device product lifecycle management and 3D ultrasound technology.

Founded in 2000, Allied Panels' customers include GE Healthcare, Siemens Healthcare, SonoSite and SuperSonic Imagine. The company's main development and production centre is located in Frankenburg, Austria, with an additional location in Madison, Wisconsin, USA. With annual revenue of approximately 40 million euros, the company currently employs close to 130 people. The transaction is expected to close in the third quarter.
 
"Allied Panels' technical depth, unique capabilities, and extensive experience in the diagnostic imaging industry, will strengthen Celestica's healthcare offering," said Sandra Ketchen, Vice President, Healthcare, Celestica. "Through this acquisition, Celestica and Allied Panels will offer global healthcare customers comprehensive, end-to-end solutions that combine Celestica's scale, broad range of capabilities and financial strength, with the focus, track record and specialized expertise of Allied Panels."

The acquisition will also provide Celestica with a strategic healthcare centre of excellence in Europe to better serve its European healthcare customers.
 
"We are proud of our solid track record for delivering innovative solutions that meet the needs of our customers in the healthcare market," said Hansjörg Weisskopf, Founder and CEO, Allied Panels. "By joining Celestica, we can leverage their scale and global footprint to offer additional value to our customers and provide them access to new markets. We look forward to joining the Celestica healthcare team."

Celestica's healthcare division provides design, automated manufacturing, electronics manufacturing, fulfillment and after-market services to medical equipment companies. The company operates an ISO 9001/13485 Certified, QSR compliant network and is a U.S. FDA-registered manufacturer of medical devices.