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Integrated Micro-Electronics to expand medical devices business

27 Nov

Integrated Micro-Electronics Inc.(IMI) will use proceeds from an ongoing follow-on offering to fund acquisitions, expand to other markets and boost capacity.

IMI has a diversified revenue base covering the automotive, telecom, industrial, consumer, computer peripherals and medical segments.

It has manufacturing sites in the Philippines, China, Singapore, the United States, Bulgaria, the Czech Republic and Mexico, enabling the company to assist original electronic equipment makers serving regional or international markets.

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“We’re already embedded in the right markets that we want.

We can start focusing and expanding into other markets like medical,” Tan said.

At end-July, the medical industry only accounted for 3% of revenue.

Citing various reports in its final prospectus, IMI said the medical electronics market is projected to hit $372.4 billion while medical imaging is expected to be the fastest growing application with a compounded annual growth rate of 16.9% by 2018.

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Posted by on November 27, 2014 in Corporate News, IMI, Stock Market

 

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