Intech Reports Record Revenue in 2021 and 2022 Expansion
MEMPHIS, Tenn. (PRWEB) March 16, 2022
Intech, the market leader in contract manufacturing of orthopedic medical devices, today reported 2021 financial results and provided a summary of recent business insights.
Corporate Highlights:
- 2021 Group Revenue: Year-end revenues for 2021 reached $150M. These remarkable results are up 9% from the previous year’s total revenue. The growth was fueled by recent expansions and driven by Intech’s exposure to innovative Robotics & Navigation programs despite COVID’s negative impact on elective surgeries and supply chains.
- Intech Chatellerault: Expansion into 3D printing and Implants manufacturing. In December 2021, Intech announced the acquisition of machining and additive manufacturing expert Coulot Decolletage. Intech anticipates continued growth and success as they expand services in Spine, Extremities and Trauma implants while accelerating time-to-market.
- Organic expansion: With Montagu’s support, Intech has engaged in a series of site expansions with a strong investment plan to add over 150,000 sqft of manufacturing floorspace to support new business within the next 18 months. In December 2021, Intech Saint-Soupplets completed first phase expansion with an additional 10,000 sqft of production floor space.
- Intech Rockaway: Intech is ramping its Cases & Trays capabilities in the United States, with a location in Rockaway, NJ. The new business unit is set to launch in Q2 2022 under the leadership of David Hollner. This new facility will allow Intech to increase its responsiveness and customer service to US clients.
- Recruitment Milestone: As the company grows, the energy and talent of the Intech team plays a vital role in the success of every project as they work towards exceeding expectations to deliver a world of excellence for their customers. In 2022, Intech will reinforce its team with the recruitment of an additional 100 employees, including its 1,000th Intecher!
- The launch of SMADE: last but not least, the rebrand of Wayvio into SMADE, an Intech spin-off providing IoMT and data-driven smart solutions to help OEMs and healthcare organizations in their daily decision-making.
The recent digital transformation of healthcare and the widespread use of smart medical solutions have come with new legal, regulatory and supply chain challenges. Data needs to be accurate, accessible, reliable and insightful to address the real-life pain points of large-scale healthcare organizations and OEMs.
Final Remarks: With the many advancements of the newly consolidated Intech Group, medical device companies have the capability to thrive and deliver best-in-class products and customer service. As a result, supporting medical device companies, surgeons and patients alike.
To learn more about how Intech is serving the Orthopedics Industry, join the team at AAOS booth #2650 or visit the website intech-medical.com
About Intech
A global player in the orthopedics market, Intech delivers unique solutions that better patients’ lives around the world. Founded in 2000, the Group is proud to lead the way in the manufacturing of surgical instruments and implants, cases & trays, additive manufacturing and silicone handles. Powered by 1,000 Intechers across the United States, France and Malaysia, Intech is a premiere engineering powerhouse, capable of delivering manufacturing solutions anywhere, at any time.