Vigmed partners with AMB Industri AB for the production in Sweden of a high-value needle-safety product
Following the wishes expressed by the market, Vigmed has previously announced that the company will speed up the development and commercialization of a third product category. The product is a high-value niche product within Vigmed’s core area of needle safety, which for competitive reasons will not be specified at the current time. The goal is to launch the new product early in 2015, and to accomplish this Vigmed has now entered into a partnership with AMB Industri AB who will invest in a dedicated production facility for the new product.
The additional product category targets a premium niche segment where there are no needle-protected or safety products currently available. Vigmed has once again demonstrated its ability to innovate and develop a unique solution where a needle-protected prototype of the product has been produced and tested. The next step is now being taken as AMB invests in a new, dedicated production facility in Sweden for the product in question. The potential for the new product is significant and Vigmed expects to be first to market.
Chairman Vigmed, Lennart Holm, CEO Vigmed Finn Ketler,
CEO AMB, Tomas Magnusson, Chairman AMB, Håkan Lavebratt.
AMB (www.amb.se) is a supplier to the medical industry with high value-added plastic parts as their specialty. The company has departments for injection molding, painting and assembly, both in and outside the cleanroom. The main business area is medical technology where AMB is now the world leader in the manufacture of hearing aid casements. AMB's subsidiary Tingverken have also played an active role in Vigmed’s product development process. The company, founded in 1946, currently has about 150 employees and is third generation family owned. "This launch is in line with our strategy to grow in the medical field," says AMB's CEO Tomas Magnusson. "We are taking another important step towards highly automated mass production of sterile devices, and at the same time showing that we are competitive in a global perspective."
Vigmed Holding’s CEO, Finn Ketler, commented that "through a partnership with AMB we further strengthen our ability to deliver a broad and unique range of products to the market. AMB is an excellent complement to the production partnerships we have already established in Sweden and India, and is recognized as a seasoned high-tech manufacturer of medical devices. Vigmed is well equipped for future expansion."
For further information contact:
Vigmed: Chairman of the Board Lennart Holm (+46 70-630 8562) or CEO Finn Ketler (+46 42 600 5311).
AMB: CEO Tomas Magnusson (+46 471 48518)
Please feel free to visit the company’s new website at www.vigmed.com
Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 15 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor. Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s home page: www.vigmed.com
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