Global-Med Technologies Group (GTG) has signed an agreement with SMI of Ocala, Florida, to provide manufacturing of all implants, instruments and related medical components for GTG's subsidiary companies.
GTG currently has three subsidiary companies that are involved in the medical device industry. The companies manufacture orthopedic, spinal, diagnostic, neurosurgery and general medical instrumentation products at the new ISO 13485 certified SMI facility in Ocala, Florida.
Further to the new strategic partnership, SMI is expected to provide prototyping, manufacturing, design, testing, clean room environment, quality, distribution and inventory control services to the device companies.
GTG will eventually gain space in the new facilities to interface with SMI and create a manufacturing engineering department to liaison with its subsidiaries.
The agreement will allow SMI to grow its medical device manufacturing and service business in the US and internationally. SMI management believes that the US medical device industry ($100bn) and the worldwide healthcare market ($4.2 trillion) provide enhanced manufacturing growth opportunities in the upcoming decades.