MORGAN HILL, Calif.--(BUSINESS WIRE)--Paramit Corporation, a provider of medical devices and instrument manufacturing services, today announced that it has successfully completed a deal with Lemarne Corporation Limited (ASX:LMC) to purchase its Malaysian based manufacturing organization – Lemtronics. Paramit had previously announced on October 7, 2011, that it had entered into an agreement with Lemarne to purchase Lemtronics.
The sale was approved by Lemarne’s shareholders at a general meeting, which was held on the 24th of November.
Commenting on the completed acquisition, Paramit CEO Billoo Rataul said:
“We are very excited about completing the acquisition of Lemtronics. This acquisition expands our global footprint and gives us a vehicle to offer medical device and instrument manufacturing services to our current and future customers for the Asian and European markets. We see a tremendous potential to service our customers worldwide.”
Paramit Corporation, a portfolio company of Altaris Capital Partners, LLC located in Morgan Hill, California, is an industry leader in providing medical devices and instrument manufacturing services. Its website is www.paramit.com.