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Medical Action Industries Inc., a provider of medical and surgical products, said Friday it completed the purchase of Avid Medical Inc. for $ 62.5 million in cash plus transaction costs.Avid makes custom procedure trays to serve the industry of health care. Medical Action said the purchase will increase its capacity to serve health care providers in places of intensive care and surgery centers.Avid had about $ 136 million in revenue during the most recent fiscal year, which ended in March 1931. Michael Sahady, founder and CEO of Avid, will join the medical board of directors of Action, and Avid's president and chief operating officer Richard Setian will become vice president of sales and marketing. The Medical

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