— Foxconn International announced on Monday it will acquire the Alpha Medical Instrument business in a deal valued at $1.1 billion.

The purchase gives Foxconn a full-line medical device manufacturing operation in the United States, bringing the company to more than 20,000 employees.

The transaction was made with the intent to create an “intelligent medical device business” for Foxconn, according to a press release.

The company will also retain a majority ownership interest in its US operations, which will include manufacturing, sales and distribution.

Foxconn plans to expand its operations in North America, with a focus on the healthcare industry.

The company is focused on medical devices, medical devices and medical software.

Foxconn, founded in 1997, has more than $12 billion in cash and cash equivalents.

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