SMTC Corporation to Manufacture Aura V Ventilators in Battle to Combat COVID-19
SMTC Corporation (Nasdaq: SMTX) has announced its plan to manufacture Aura V ventilators for IPM Chirana amid the rising COVID-19 cases. The ventilators, designed for intensive care units, will be produced at SMTC's facility in Boston, which holds various industry certifications. Ed Smith, the President and CEO of SMTC, expressed pride in supporting the medical community through this initiative. IPM Chirana selected SMTC for its quality and rapid delivery capabilities, which are critical for emergency medical equipment production.
- SMTC to manufacture Aura V ventilators, enhancing its role in critical healthcare.
- The Boston facility has multiple industry certifications, ensuring quality standards.
- Dependence on COVID-19 demand may lead to volatility in future orders.
TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing services provider and winner of Frost & Sullivan’s 2019 Best Practices Award for Customer Value Leadership in the Electronics Manufacturing Services Industry, today announced that the Company will produce Aura V ventilators for its customer IPM Chirana.
“With the number of COVID-19 cases continuing to rise, we are pleased that we are able to draw on experience in building complex equipment that will perform in critical situations to support the medical community in combatting COVID-19 by manufacturing IPM Chirana’s Aura V ICU ventilators,” said Ed Smith, SMTC Corporation’s President and Chief Executive Officer.
“We selected SMTC to manufacture our Aura V critical care ventilators because of their reputation for quality, customer responsiveness and ability to quickly bring complex medical equipment to market,” said Bud Reeves, IPM Chirana’s CEO.
The Aura V ventilator is designed for use in intensive care units to support and protect the patient’s lungs while providing critical information to caregivers. SMTC plans to manufacture IPM Chirana ventilators at its 58,000 square foot facility in Boston, which has earned a number of industry certifications, including ISO-9001, ISO-13485, AS9100, IPC-610, Class II & Class III and is RoHS compliant.
Forward-Looking Statements
The statements contained in this release that are not purely historical are forward-looking statements, which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward looking terminology such as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other and similar words, and include, but are not limited to, statements regarding the location of manufacturing for and the financial results related to, the customer relationship referenced above, and certain of its noted certified quality standards. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, such as modification or termination of the applicable customer orders, the success and timing of ramping, availability and timing and receipt of critical parts or components, demand from ultimate customers, as well as other risks and uncertainties detailed from time to time in the Company's various SEC filings, including its annual report on Form 10-K, Form 10-Q and on subsequent reports on Form 8-K. The forward-looking statements contained in this release are made as of the date hereof and SMTC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
About IPM Chirana
IPM Chirana is a global provider of life-changing medical technologies based in Research Triangle Park, North Carolina, with a manufacturing facility in Boston, Massachusetts. Led by knowledgeable leaders in respiratory care, IPM Chirana is focused on offering the Aura V ventilator’s unique capabilities globally. Through its unwavering commitment, IPM Chirana empowers and guides healthcare providers in their quest to improve and protect the health, safety and quality of life for patients around the world. Through its collaboration and unified efforts, IPM Chirana invests its resources to nurture and advance knowledge and the adoption of evidence-based, reliable and robust innovation.
About SMTC
SMTC Corporation was founded in 1985 and acquired MC Assembly Holdings, Inc. in November 2018. SMTC has more than 50 manufacturing and assembly lines in the United States and Mexico which creates a powerful low-to-medium volume, high-mix, end-to-end global electronics manufacturing services (EMS) provider. With local support and expanded manufacturing capabilities globally, including fully integrated contract manufacturing services with a focus on global original equipment manufacturers and emerging technology companies, including those in the Avionics, Aerospace and Defense, Industrial IoT, Power and Clean Technology, Medical and Safety, Retail and Payment Systems, Semiconductors, Telecom, Networking and Communications, and Test and Measurement industries. As a mid-size provider of end-to-end EMS, SMTC provides printed circuit board assembly production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, and sustaining engineering and supply chain management services. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. For further information on SMTC Corporation, please visit our website at www.smtc.com.
Investor Relations Contact
Peter Seltzberg
Managing Director
Darrow Associates, Inc.
516-419-9915
pseltzberg@darrowir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/00884039-36d5-4cb1-89bd-861250f96981
FAQ
What is SMTC Corporation's latest announcement regarding ventilators?
Where will SMTC produce the Aura V ventilators?
How does the partnership between SMTC and IPM Chirana benefit the healthcare sector?
What are the certifications held by SMTC's Boston facility?
What is the significance of the Aura V ventilator?
