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KMC and Elbit Systems of America Announce Company Expansion
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Rhea-AI Summary
Elbit Systems of America's medical division, KMC Systems, has opened a new corporate innovation center in Cambridge, Massachusetts. This expansion includes 10,000 square feet of workspace and aims to enhance their medical instrumentation capabilities, particularly in next-generation sequencing and cell and gene therapy.
The facility will accommodate 50-60 engineers and foster partnerships, including with start-up companies. The move strengthens Elbit's presence and access to talent in the region while supporting local academic institutions.
Positive
Opening of a new 10,000 sq ft corporate innovation center in Cambridge.
Expansion aims to enhance medical instrumentation capabilities in new markets.
Facility will support 50-60 engineers, boosting local employment.
Strengthened access to top talent from local educational institutions.
Negative
None.
MERRIMACK, N.H.--(BUSINESS WIRE)--
KMC Systems, a leading engineering design and manufacturing company focused on the creation of complex medical instrumentation, and the medical division of Elbit Systems of America (“Elbit America”), today announced its opening of a new corporate innovation center located in Cambridge, Massachusetts.
Elbit America’s corporate expansion to Cambridge is focused on creating a high-tech engineering design and innovation center as the company continues to expand its medical instrumentation capabilities into new markets including next generation sequencing and cell and gene therapy.
“The expansion of our offices to Cambridge puts KMC in a key location, being closer to our customer-base and keeping KMC on the pulse of emerging technologies and trends from our healthcare partners and industry leaders,” said Derek Kane, General Manager of KMC Systems. “Cambridge also gives us important access to top talent from nationally recognized, local education institutions.”
The new office space includes 10,000 square feet of work space designed for new engineering projects and an additional 50-60 Elbit America engineers. The space may also be leveraged for expanding Elbit America’s industry partnerships, including room for start-up companies looking for a Boston-based location to continue their innovative work.
“Elbit Systems of America is focused on driving disruptive technology across our entire organization,” said Raanan Horowitz, CEO of Elbit Systems of America. “Expansion of our New England operations is not only an investment in our medical division and emerging technology spaces, but also an investment in our continued support to our local academic institutions.”
“Elbit America and KMC are strategically planning for the future across both our defense and medical divisions,” said Scott Baum VP of Strategy and Growth, Elbit Systems of America. “We are expanding our physical footprint, expanding our technology and capabilities, and most importantly our growth allows us to continue to invest in and develop our employees.”
For more information about KMC Systems, please visit www.KMCSystems.com.
About KMC Systems
KMC Systems, Inc. is a medical device and life sciences diagnostic company that specializes in contract design and manufacturing services for some of the leading medical devices and life sciences companies around the world. KMC was founded in 1980 and has served the medical device and life sciences industry for 40 years. The company is based out of Merrimack, New Hampshire and is the medical subsidiary of Elbit Systems of America. For additional information, visit http://www.kmcsystems.com/ or follow them on Twitter, and LinkedIn.
About Elbit Systems of America, LLC
Elbit Systems of America, headquartered in Fort Worth, Texas, is a leading provider of high-performance products, system solutions, and support services focusing on the defense, homeland security, law enforcement, commercial aviation, and medical instrumentation markets. With facilities throughout the U.S., Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT), a global high technology company engaged in a wide range of programs for innovative defense and commercial applications. For additional information, visit: www.elbitsystems-us.com or follow us on Twitter, LinkedIn and Instagram.
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems. For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, YouTube and LinkedIn Channels.
This press release may contain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macroeconomic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements. Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.
