On December 17, 2019, it announced a deal with Synaptic Medical Inc. As part of the deal, Linamar will invest $5 million into the Toronto-based medical company. Linamar will manufacture two of Synaptive’s products: the robotically-controlled Modus V microscope, which boasts shortening surgery times and offering a larger and more detailed image than competitors, and the Evry MRI system, which can be operated only with head movements and is designed to reduce installation and operating costs.
Linda Hasenfratz, CEO of Linamar, described the move as just the start of her company’s venture into medical tech:
“This strategic partnership is a great first step for us into the opportunistic medical and biotech market, given the growing and ageing population and the ongoing demand for new, innovative and cost-effective solutions to our growing medical needs.”
The two tools will be manufactured at Linamar’s Woodlawn Road innovation hub. Like auto parts, health equipment is mainly sold between businesses and institutions, through brochure printing and Business Cards handed out at trade shows.
Linamar is currently divided into Industrial and Transportation divisions, which are further made up of operating groups for Skyjacks, agriculture, machining & assembly, light metal casting, and forging. It currently operates over 61 manufacturing locations worldwide.Get a Free Quote for Business Cards