Avail Medical: UBS Capital Americas and management completed a recapitalization of Avail Medical Products, Inc. in November 2000. Avail is a leading North American provider of outsourced manufacturing and development services to the global medical device industry. Avail provides a wide range of value-added services including product design/development, certification, regulatory approval, low-cost manufacturing and supply chain management. Avail has established strong relationships with industry leading medical device innovators.

Transaction Rationale:

• Strong, experienced management team
• Large, rapidly growing and untapped marketplace
• High barriers to entry (relationships, quality and performance record, regulatory)
• Leading market position based on low cost manufacturing and strong customer relationships
• Opportunities for value creation through organic growth, capability enhancement, acquisitions and customer plant purchases, and potential strategic and IPO exit

Creating Value:

• Executed multiple large and complex medical device outsource manufacturing projects
• Revamped sales and marketing efforts and won major new design and manufacturing projects from leading medical device customers
• Created industry-leading design and development capability and expanding into customer’s R&D pipelines
• Implemented ISO 9001 certified system-wide quality program and create the industry leading quality system
• Acquired leading competitor to expand customer base, capabilities, and scale
• Significantly expanded operations in Mexico and recently opened Chinese operations
• Implementing a new ERP system to dramatically upgrade management information systems

Outcome:

• Avail Medical, Inc. was acquired by Flextronics in January 2008 in a successful liquidity event for Avail's shareholders.