Greatbatch
's (
GB
)Electrochem division, which offers high performance commercial
batteries, has concluded its ISO 13485:2003 registration audit. The
audit is carried out by the National Standards Authority of
Ireland. In addition, the company's division has received a
recommendation for certification.Electrochem anticipates receipt of
final certification in about one and a half months time.
The ISO 13485:2003 certification spells out mechanisms for a
company's quality management setup to exhibit the capability of
producing medical devices that satisfy client and regulatory
requirements regarding standards concerning medical device
application.
Electrochem focuses on technology offerings for critical
situations, where failure is not at all tolerable. The
above-mentioned certification, in conjunction with its recent
takeover of Micro Power Electronics (an ISO 13485:2003 certified
enterprise), gives a proof ofElectrochem's long-standing commitment
to mobile medical gadgetry.
Greatbatch is a leading producer and supplier of batteries,
capacitors and components used in implantable medical devices. The
company's top customers include
Boston Scientific
(
BSX">BSX
),
Johnson & Johnson
(
JNJ">JNJ
),
Medtronic
(
MDT
) and
St. Jude
(
STJ">STJ
).
Greatbatch's smallerElectrochem division manufactures high
performance batteries for use in oil and gas exploration,
oceanographic equipment, seismic surveying equipment and aerospace.
The division accounted for roughly 14% of the company's sales in
2010.
Greatbatch has been acquiring complementary businesses over the
last few years to boost sales. The company's pipeline is healthy
with a number of products currently under development that are
expected to support growth in the long run. Moreover,Greatbatch
continues to invest in developing medical devices for its major OEM
clients.
We believe that the operating results will be backed by the
company's strength in its orthopedic business and strategic
investments. Moreover, synergies from cost-cutting and
restructuring initiatives are expected to support margin expansion.
Currently, we have an Outperform recommendation onGreatbatch .
BOSTON SCIENTIF (
BSX
): Free Stock Analysis Report
GREATBATCH INC (
GB
): Free Stock Analysis Report
JOHNSON & JOHNS (
JNJ
): Free Stock Analysis Report
MEDTRONIC (
MDT
): Free Stock Analysis Report
ST JUDE MEDICAL (
STJ
): Free Stock Analysis Report
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