PARTNERING
Tecan acquires medical device specialist Paramit Paramit Corporation is the latest company to join the Tecan Group, bringing with it a wealth of knowledge and experience, as well as a fresh perspective to engineering and manufacturing, that will resonate throughout the whole organization. Paramit was acquired in August 2021, heralding a unique opportunity to combine the expertise of both companies and provide high quality solutions to the life sciences, in vitro diagnostics and medical device markets. Founded in 1990, Paramit is a
to the business. In addition, having
invest time to get a deep and detailed
global contract development and
access to the huge engineering
understanding of Paramit and how the
manufacturing company specializing in
resource pool at Tecan makes it easier
company operates. The entire Tecan
medical devices and life sciences
to address the needs of our mutual
approach has been very collaborative.”
equipment, with an industry-leading
customers, as well as to develop new
OEM approach that complements
connections and showcase our
Madhu Vasudevamurthy, Vice President
Tecan’s Partnering Business. The
capabilities to potential clients.”
of Partnering Systems at Tecan, looks
company combines custom
forward to this next chapter, and the
microfluidics, electronics, optics and
Jeff Johnson, Vice President of Sales
benefits that this acquisition will bring
motion control to help its clients create
and Marketing at Paramit, continued:
for both companies: “I am very happy
a range of products, from handheld or
“Aside from all the technical benefits,
and excited about the new growth
point-of-care devices to benchtop
this partnership has also brought many
opportunities for Tecan and its
instruments and cart-based systems.
practical advantages for Paramit, such
customers as we expand into the
It has expanded from its origins in the
as assistance with FDA approvals.
medical device sector, adding an
US to owning multiple state-of-the-art
Tecan is well-versed in the world of
additional pillar to our portfolio.
development and manufacturing
auditing and regulatory compliance,
Paramit’s long and broad experience in
facilities across the world, including
and dedicates a significant amount of
this sector will accelerate Tecan’s
an award-winning site in Penang,
resources and expertise to this, which
research into new clinical applications
Malaysia.
Paramit can now deploy to help
and open new doors for the company,
navigate regulatory pathways,
helping to expand our quality
Tecan’s acquisition of Paramit opens up
including IVDR. In addition, both
assurance and regulatory affairs skill
a new and exciting development
companies and their customers can
set in this highly regulated area.”
pipeline for the medical device
benefit massively from the expanding
industry, as Faiyaz Syed, Chief
global footprint. For example, if there is
“In addition, acquiring Paramit will
Operating Officer, explained: “Each of
ever an issue with a product that has
extend Tecan’s global footprint, giving
the companies has something unique to
been shipped to Europe, it can now be
us the resources to reach more
bring to the table; at Paramit, we are
serviced regionally by Tecan without
customers in the Americas and Asia,
experts at manufacturing complex
having to ship it back to the US. The
directly benefitting existing customers
electromechanical systems for the
team at Paramit is really pleased with
in these regions. It will also strengthen
medical and life sciences industries,
the progress that this acquisition has
our design, development and
while Tecan has established R&D and
made so far. We have had numerous
manufacturing capabilities, enabling
regulatory teams, bringing vast
discussions over the first few months,
Tecan to serve a broader range of
experience, knowledge and credibility
and I am amazed by the willingness to
customers and applications. Across the
ogether, Tecan and Paramit will bring T reliable and innovative technologies to the medical, in vitro diagnostics and life sciences sectors.
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TECAN JOURNAL 1/2022
