Memphis, Tennessee – Elos Medtech officials will expand Onyx Medical LLC, located in Memphis, Tennessee, by adding 27,000ft2 and investing in new manufacturing equipment in response to increased demand from orthopedic customers. The company has expanded several times since it was established more than 25 years ago and this expansion will effectively double the production area.
Onyx Medical LLC was acquired by Elos Medtech in 2015 to extend its global presence and further specialize within orthopedics. A committed effort has been pursued since 2015 to create an attractive global orthopedic offering based on technical expertise and specialized capacity as a strategic medical device manufacturing partner. This work has been carried out in close cooperation with customers and has led to increased demand for medical drills, pins, wires, and screws in both traditional trauma and robotically enabled surgery. Demand is significant, which requires an expansion of the factory in Memphis.
"Our global focus on the orthopedic market in recent years has given us new opportunities to meet our customers' increased needs for collaboration, specialized skills and manufacturing capabilities," says Jodie Gilmore, global business director orthopedics and managing director at Onyx Medical. "We are now expanding the facility and investing in new equipment to increase our capacity and thus meet our customers' demand.”
The significant expansion will also lead to the creation of new jobs and the company has been granted economic incentives from the "Economic Development Growth Engine for Memphis and Shelby County” resulting in future tax credits of almost SEK 12 million (approximately $1.4 million) over a nine-year period.
“When the project is completed in 2019, we will have achieved a significant step in our strategic plan for growth and increased focus on key markets and created a strong platform for continued development of our global orthopedic business," says Jan Wahlström, CEO.
Elos Medtech is one of the leading development and production partners for medical technology products and components in the world, such as dental and orthopedic implants and instruments. The operations are conducted at facilities in Sweden, Denmark, China, and the US. Customers are internationally active medical technology companies.