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Linamar Announces Strategic Manufacturing Agreement and Concurrent Investment in Synaptive Medical, Inc. to Diversify Into Rapidly Growing Medical Biotech Market
Linamar Announces Strategic Manufacturing Agreement and Concurrent Investment in Synaptive...
About this update from Linamar Corporation
[{"type":"text","content":"\n\n\n\nLinamar Announces Strategic Manufacturing Agreement and Concurrent Investment in Synaptive Medical, Inc. to Diversify Into Rapidly Growing Medical Biotech Market\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nGUELPH, ON, Dec. 10, 2019\n\n\n\nGUELPH, ON, Dec. 10, 2019 /CNW/ - Linamar Corporation (TSX:LNR) today announced that it has entered into an exclusive Strategic Manufacturing Agreement with Synaptive Medical Inc. (\"Synaptive\") to manufacture Synaptive's patented Modus V™ and Evry™ products. Concurrently with this Agreement, Linamar also announced a $USD 5 million equity investment in Synaptive. Terms of the investment were not disclosed.\nToday's announcement closely aligns with Linamar's innovation and diversification strategy by bringing significant value to an innovative early stage company for mutual growth. The deal leverages Linamar's manufacturing expertise and infrastructure, design for manufacturing capabilities, and supply chain management expertise to allow for rapid commercialization of Synaptive's products. Further, the transaction allows Linamar to participate as both a shareholder and manufacturer in the rapidly growing and dynamic medical device and biotech market. Linamar initially plans to incubate the manufacturing of Synaptive's products at the Linamar Innovation Hub in Guelph, Ontario. \nModus V™ is a fully automated, hands-free, robotically controlled digital microscope with advanced visualization that supports a wide range of surgical approaches and workflows. Modus V can be operated comfortably and efficiently because the robotic arm is driven by tracked instrumentation that automatically maneuvers a digital microscope to desired viewing angles. With an optimal standoff distance and a minimal profile in the operative field, Modus V™ offers a large working area. Its enhanced optics provide a larger field of view, a higher depth of field and more natural color reproduction to ensure that surgeons have a clear view of critical anatomical structures at all times and also allows for mu...