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Linamar Diversifies Into Medical Device, Biotech Market

Web posted on December 18, 2019

Linamar Corporation (TSX:LNR) today announced that it has entered into an exclusive Strategic Manufacturing Agreement with Synaptiveedical Inc. ("Synaptive") to manufacture Synaptive's patented Modus V and Evry products.

Concurrently with this Agreement, Linamar also announced a $US 5 million equity investment in Synaptive. Terms of the investment were not disclosed.

The announcement closely aligns with Linamar's innovation and diversification strategy by bringing significant value to an innovative  early stage company for mutual growth.

The deal leverages Linamar's manufacturing expertise and infrastructure, design for manufacturing
capabilities, and supply chain management expertise to allow for rapid commercialization of Synaptive's products.

Further, the transaction allows Linamar to participate as both a shareholder and manufacturer in the rapidly growing and dynamic medical device and biotech market.

Linamar initially plans to incubate the manufacturing of Synaptive's products at the Linamar Innovation Hub in Guelph.

Modus V is a fully automated, hands-free, robotically controlled digital microscope with advanced visualization that supports a wide range of surgical approaches and workflows. Modus V can be operated comfortably and efficiently because the robotic arm is driven by tracked instrumentation that automatically maneuvers a digital microscope to desired viewing angles.

With an optimal standoff distance and a
minimal profile in the operative field, Modus V offers a large working area. Its enhanced optics provide a larger field of view, a higher depth of field and more natural color reproduction to ensure that surgeons have a clear view of critical anatomical structures at all times and also allows for much shorter surgery times thanks to the elimination of the need to manually adjust the microscope.

Evry is a head-only magnetic resonance imaging (MRI) system developed to improve access to MRI in critical and acute situations.

Through careful design decisions, Evry is intended to support point-of-care MR imaging by overcoming the many challenges of cost effectiveness and workflow optimization associated with conventional MRIs, specifically by eliminating the need for costly helium refills, installation of quench pipes and by reducing high construction costs.

Evry has been designed in an attempt to reduce costs for install and to run meaning hospitals can install the units in previously inaccessible areas such as the ICU, Emergency Room or the Operating Room.

Evry has been carefully designed to overcome many of the challenges of cost effectiveness, and workflow optimization to support point-of￾care MR imaging. Please contact Synaptive Medical for the regulatory clearance status.

"I am very pleased to announce this manufacturing agreement and investment with Synaptive," said Linda Hasenfratz, Linamar's CEO.

"This strategic partnership is a great first step for us into the opportunistic medical and biotech market, given the growing and aging opulation and the ongoing demand for new, innovative and cost effective solutions to our growing medical needs.

"Synaptive is truly a global innovation leader in the medical marketplace and we are excited to embark on this partnership with them."

"At Synaptive Medical, we recognize the importance of scaling manufacturing processes in surgical planning and navigation," said Cameron Piron, Synaptive President and Chief Strategy Officer. "We are extremely excited about this agreement with Linamar Corporation, a demonstrated leader in device technology manufacturing, marking the advancement of Synaptive's manufacturing efforts as we work to
develop innovative technologies for surgeons worldwide."

Synaptive Medical Inc., a Toronto-based medical device and technology company, designs hardware and software technologies that cross traditional barriers in hospitals and improve patient care in and beyond the operating room.

Synaptive's Modus V and integrated BrightMatter solutionsincluding surgical planning, navigation and visualization, and an informatics platformgive leading clinicians andhealthcare systems the information they need to ensure the best possible outcomes for patients and their Evry MR Imaging technology is
intended to bring lower cost imaging to the point of care.