Strong Demand for Life Science – Elos Medtech Expanding in Sweden

Elos Medtech has, owing to a growing number of orders, decided to increase production capacity by expanding Elos Medtech´s site in Skara.

Over the last few years, Elos Medtech has experienced increased demand from new and established customers for advanced, injection-molded polymer products. The company’s customers are global and operate primarily within the growing diagnostics market. The strong demand is due to the fact that customers are looking to outsource large parts of their production lines or production in its entirety.

Elos Medtech’s focus on injection molding in polymer materials, within the Life Science business area, has evolved over time to encompass more advanced and automated production with major value added. Elos Medtech has gradually added more processes such as insert molding and automated cleanroom production.

“Our good reputation has resulted in more customers relying on us as their development and manufacturing partner, and this has led to exciting new production projects. We are very excited about the expansion and look forward to the opportunities it will offer to our customers and our company,” says Mathias Andersson, Managing Director at Elos Medtech in Skara.

“The expansion is a significant step in our plan for growth and strengthens our long-term profitability. When the expansion is completed in the first half of 2021, we will have excellent opportunities to grow further by meeting customer demand for specialized expertise and manufacturing capacity,” says Jan Wahlström, President and CEO.

Elos Medtech will commence the expansion work before the end of the year. The site in Skara, which currently spans 3,300 m², will be expanded by a further 2,400 m². The initial investment amounts to SEK 40 million, with additional annual investments in machinery and equipment according to customer demand. The expansion will double the production area, and will significantly increase opportunities to meet the existing and future needs of customers.
 

Elos Medtech is a world-leading development and production partner for medical devices and components, with a focus on dental and orthopedic implants and instruments. The company operates from facilities in Sweden, Denmark, China and the US. The customer base comprises international medical technology companies.

Elos Medtech has more than 550 employees and a turnover of more than SEK 600 million. Elos Medtech has been listed on NASDAQ Stockholm AB since 1989. Elos Medtech’s B share is categorized as a Health Care company on the Small Cap list.

Gothenburg, October 24th, 2019

Elos Medtech AB (publ)

For more information, please contact:

Jan Wahlström, President and CEO, +46 (0)70 212 18 89, jan.wahlstrom@elosmedtech.com
Mathias Andersson, Managing Director, Elos Medtech in Skara, +46 (0)732 70 99 65, mathias.andersson@elosmedtech.com

 This information in this report is information that Elos Medtech AB (publ) is required to publish under the EU Market Abuse Regulation. The information was submitted (by the contact person specified above) for publication on October 24th, 2019, at 11:00 (CET).

For further information about the Elos Medtech Group, please refer to www.elosmedtech.com

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