TORONTO, March 7, 2013 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX) ("SMTC"), a global electronics manufacturing services provider, announces that they have signed a manufacturing agreement with IMAXDI, a leading Spanish engineering and product innovation company that specializes in the development of medical devices and related applications. SMTC have been contracted to build a state-of-the-art mobile communications medical device called 'mBeat' at SMTC's ISO13485 certified facility in San Jose California.
The 'mBeat' is a mobile communications platform which captures patient vital sign data through a series of portable wireless sensors. The device allows critical biomedical data to be transmitted in real-time from the patient to healthcare providers regardless of their location. Diagnostic-quality data may be viewed and analyzed at their tablet computers, smartphones or PCs, using existing mobile communication networks.
Through this new agreement, SMTC will provide IMAXDI with a range of manufacturing and service solutions from their San Jose facility in order to support the launch of the 'mBeat' medical product. These services include design engineering, new product introduction (NPI) support, printed circuit board assembly (PCBA), final device manufacturing and global supply chain and logistics support.
For the product design, SMTC will utilize the expertise and knowledge of their design partner, Idneo, to provide IMAXDI with accelerated product compliance and certifications in order to reduce time-to-market. Idneo's expertise covers a wide range of specialities, including design and engineering of embedded software, mechanical 3D design of products and packaging solutions, design of both analog and digital hardware, design of power circuits and EMC solutions (Electro-Magnetic Compatibility) to global customers in multiple markets.
"The level of design support, engineering expertise and manufacturing capabilities, combined with the service flexibility offered to us by SMTC, represents real value for IMAXDI," said Miguel Moure, President and CEO of IMAXDI.
"IMAXDI is a truly innovative company, and we are very excited to be partnering with them in manufacturing this product," said Joel Bustos, Vice President and General Manager of SMTC San Jose. "We look forward to supporting and growing the 'mBeat' medical product line through our San Jose facility.
About IMAXDI: IMAXDI Real Innovation is a European biomedical engineering company focused on developing new and disruptive technologies and products to change the way cardiological telediagnosis is being delivered. IMAXDI brings concepts such as full mobility, wireless communications or real-time access to expert diagnosis, to the enterprise and consumer market connecting healthcare providers, professionals and patients anytime, anywhere. With a deep knowledge both on hardware and software design and development, and a multi-skilled team with doctors and engineers, IMAXDI is leading the mHealth innovation path in Europe. The goal: improving healthcare services delivery through new mobility technologies, guaranteeing medical quality data everywhere. IMAXDI´s go-to-marketing strategy includes both direct sales to distribution channel and flexible partnerships with key players in local countries worldwide. IMAXDI is an ISO 9001 and ISO 13485 certified company.
About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, Mexico, and China, with more than 2,300 employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments. SMTC was recognized in 2012 by Frost & Sullivan with the Global EMS Award for Product Quality Leadership and 2013 with the North American Growth Leadership Award in the EMS industry, as one of the fastest growth companies in 2012.
SMTC is a public company incorporated in Delaware with its shares traded on the NASDAQ Global Market under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com.
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Note for Investors: The statements contained in this release that are not purely historical, including our expectations regarding continued revenue and earnings growth in 2013, are forward-looking statements which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward looking terminology such as "believes," "expect," "may," "should," "would," "will," "intends," "plans," "estimates," "anticipates" and similar words, and include, but are not limited to, statements regarding the expectations, intentions or strategies of SMTC Corporation. For these statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995. Risks and uncertainties that may cause future results to differ from forward-looking statements include the challenges of managing quickly expanding operations and integrating acquired companies, fluctuations in demand for customers' products and changes in customers' product sources, competition in the EMS industry, component shortages, and others discussed in the Company's most recent filings with securities regulators in the United States and Canada. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.