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ATS Receives Orders of US $10 Million from One of the World's Largest Medical Device Companies
August 6, 2004 |Estimated reading time: 1 minute
Cambridge, Ontario, Canada — ATS Automation Tooling Systems Inc. recently received a total of US $10.7 million (CDN $14.2 million) in orders from one of the world's largest manufacturers of self-use medical diagnostic systems.
This brings the value of orders for automation systems ATS has won over the past year from this particular customer to more than US $21 million.
These latest assignments will see ATS deliver a number of fully automated production lines that the customer will use to manufacture and package multi-use handheld diagnostic devices. Most production lines to be supplied by ATS will be used by the customer for high-volume manufacture of a new diagnostic device. Under the orders, ATS will also provide upgrades to the customer's manufacturing systems for an already existing diagnostic device and supply one new system that will be dedicated to highly flexible production of small specialized production lots. The new system will take advantage of ATS' proprietary programmable conveyance system technology, called Supertrak.
The various orders, all received by ATS during the company's recently completed first quartershould be delivered over the next 16 months.
Industry research suggests the market for handheld or point-of-care diagnostics used to test blood glucose, pregnancy and cholesterol is projected to grow 10 to 15 percent on a compound annual basis to approximately US $5 billion over the next five years. It is one of the fastest-growing areas of the in-vitro diagnostics industry.ATS has automated a number of different self-use diagnostic production systems over the past four years. It also is a leader in producing, on a contract equipment basis, automated clinical diagnostic systems for a number of large customers. Over the past five fiscal years, ATS has generated more than $300 million in revenue from healthcare.
ATS Automation Tooling Systems Inc. is a leading designer and producer of turn-key automated manufacturing and test systems, used primarily by multinational corporations operating in a variety of industries, including automotive, electronics, healthcare and consumer products. For more information, visit www.atsautomation.com.