Microbot Medical Signs Letter With Manufacturer Sanmina To Produce Its LIBERTY Single-Use, Remotely Operated Endovascular Robotic System
As momentum continues to rise in the U.S., reflected in increased accounts and usage across several states, and with the momentum building in the international markets as seen with the recent clearance in Israel and progress towards obtaining CE Mark as well as registration in additional markets, the Company believes it is necessary to expand its manufacturing capacity to meet expected demand from existing and new accounts as well as to support its cost reduction strategy. In addition to serving as a second site that diversifies the Company’s manufacturing capabilities, the Company expects it will improve operating efficiencies, lower costs, and expand gross margins. Furthermore, as one of the largest contract manufacturers globally, Sanmina has sites across many regions which could be beneficial as the Company scales production to meet anticipated demand over the next couple of years.
As momentum continues to rise in the U.S., reflected in increased accounts and usage across several states, and with the momentum building in the international markets as seen with the recent clearance in Israel and progress towards obtaining CE Mark as well as registration in additional markets, the Company believes it is necessary to expand its manufacturing capacity to meet expected demand from existing and new accounts as well as to support its cost reduction strategy.
In addition to serving as a second site that diversifies the Company’s manufacturing capabilities, the Company expects it will improve operating efficiencies, lower costs, and expand gross margins.
Furthermore, as one of the largest contract manufacturers globally, Sanmina has sites across many regions which could be beneficial as the Company scales production to meet anticipated demand over the next couple of years.