Additive manufacturer Oxford Performance Materials partnered with Tokyo-based materials supplier JSR Corp. to build a manufacturing facility in Japan and advance its PEKK 3D-printed orthopedic device line in the Asian market, hartfordbusiness.com reports.
Here are four things to know:
1. The companies will create a biomedical manufacturing and market development operation in Japan called OPM Asia.
2. OPM Asia holds an exclusive regional license that allows it to expand in an area which includes Japan, China, Korea, Taiwan, Thailand, Malaysia, Vietnam and India, among other countries.
3. The joint venture will allow the companies to use OPM's proprietary OsteoFab 3-D printing technology and other materials technology.
4. The manufacturing facility is expected to open before year end and products will be available to the Asian market in the second quarter of 2019. According to Frost & Sullivan, the Asian healthcare industry is projected to surge by more than 11 percent to $517 billion in 2018, one of the world's fastest rates.
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