Linamar moving into medical devices and components
- May 20, 2022
Linamar Corporation is looking to leverage its capabilities in precision manufacturing to purse opportunities in the medical device and component markets.
The Guelph, Ont., headquartered manufacturer has formed Linamar MedTech to build on the medical device programs the company has launched in recent years including full ventilator systems and ventilator parts, part of the highly critical, expeditated launch effort in response to the public health crisis created by the COVID-19 pandemic. Linamar has also successfully launched other medical device programs in automated robotic microscopy.
The formation of the new company is also in line with Linamar’s long-term strategy to diversify its capabilities and fuel growth.
"Linamar has expertise and resources that are applicable beyond the markets in which it operates today as we have proven with prior diversification initiatives," said Linda Hasenfratz, Linamar's Executive Chair and CEO. "This announcement formalizes the creation of Linamar MedTech, a new group with a dedicated team to pursue medical device and precision medical component business opportunities. With a growing and aging population, the medical device and precision components market is one that is growing quickly. “
By utilizing the Linamar global operating structure and manufacturing footprint, Linamar plans to manufacture precision medical components and complex medical device assemblies for the global medical market. Potential targeted products include surgical, respiratory, and imaging devices and precision components for devices, orthopedics, and prosthesis.
"Linamar has demonstrated we can supply this market with high-quality products at competitive prices," said Jim Jarrell, Linamar's President and COO. "Medical devices and precision medical components are a market where we see we can add immediate value by leveraging our scale and capabilities to bring innovative, high-quality, and cost-effective solutions to customers. Linamar's capabilities in manufacturing, supply chain and program management can be leveraged to offer medical equipment OEMs advanced contract manufacturing solutions, for better products at a better price.”