Identiv and Novanta Announce Strategic Partnership to Streamline Adoption of RFID Solutions for Healthcare OEMs
Rhea-AI Summary
Identiv (NASDAQ: INVE) and Novanta have announced a strategic partnership to enhance RFID solutions for healthcare OEMs. The collaboration combines Identiv's RFID inlays, tags, and labels with Novanta's ThingMagic reader modules and APIs to deliver end-to-end vertical solutions for medical device manufacturers.
The partnership will initially focus on developing RFID solutions for medical device and life science OEMs, targeting applications in smart medical devices, advanced diagnostics, and wearable devices. The integrated solutions aim to improve product performance, ensure proper assembly, and enhance patient safety.
The collaboration seeks to create an optimized ecosystem that simplifies RFID implementation for manufacturers, reducing complexity and accelerating time to market. The partnership will support connected care and medication management with real-time monitoring capabilities for patient vitals, medication compliance, and hospital asset tracking.
Positive
- Strategic partnership expands market reach in healthcare sector
- Creates end-to-end RFID solutions for medical device manufacturers
- Potential for increased revenue through new medical technology applications
- Streamlined product integration could accelerate market adoption
Negative
- None.
News Market Reaction
On the day this news was published, INVE gained 6.65%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Identiv and Novanta to market new RFID-based solutions that fill much needed gap for medical device and pharmaceutical manufacturers
The initial focus of this collaboration will be to market RFID solutions for medical device and life science OEMs that can be incorporated into smart medical devices, advanced diagnostics, and wearable devices to improve product performance, ensure proper assembly and improve patient safety. By combining Identiv's expertise in RFID inlays with Novanta's advanced reader technology and APIs, the two companies plan to deliver a comprehensive suite of RFID-enabled solutions tailored to streamline and simplify the development process and product integration for medical device manufacturers.
"This collaboration with Novanta will facilitate the adoption of RFID technology in critical medical device applications," said Kirsten Newquist, CEO at Identiv. "By collaborating with Novanta to integrate our leading-edge RFID devices with their trusted reader technology, we are enabling innovative manufacturers to incorporate intelligence and performance, ensuring patient safety."
Healthcare manufacturers and their suppliers face increasing demands to improve efficiency and reduce costs, with stringent requirements for safety and compliance. The Identiv-Novanta partnership expects to yield an optimized ecosystem where manufacturers can easily evaluate and implement RFID solutions, reducing complexity and expediting time to market.
"Partnering with Identiv furthers our mission to offer innovative application specific solutions to our customers," said Lina Li, President of Precision Medicine at Novanta. "The Identiv relationship will support our connected care and medication management customers with real-time monitoring of key patient vitals like temperature, wetness, and patient motion as well as medication compliance and patient linen tracking. This is a game changer for patient safety and hospital compliance."
The collaboration between Identiv and Novanta underscores both companies' commitment to innovation and customer success in the medical technology sector. This partnership aims to ensure that medical device manufacturers have access to the most advanced, integrated solutions available, enhancing efficiency and supporting the next generation of medical technology advancement.
For more information about Identiv's IoT solutions, please reach out to iotsales@identiv.com.
About Identiv
Identiv's full-circle RFID-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 1.5 billion applications worldwide, drive innovation across healthcare, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com.
About Novanta
Novanta is a leading global supplier of core technology solutions that give medical, life science, and advanced industrial original equipment manufacturers a competitive advantage. We combine deep proprietary expertise and competencies in precision medicine, precision manufacturing, robotics and automation, and advanced surgery with a proven ability to solve complex technical challenges. This enables Novanta to engineer proprietary technology solutions that deliver extreme precision and performance, tailored to our customers' demanding applications. The driving force behind our growth is the team of innovative professionals who share a commitment to innovation, the Novanta Growth System, and our customers' success. More information about Novanta is available on the Company's website at www.novanta.com.
Identiv Media Contact:
press@identiv.com
Novanta Media Contact:
Harinath.Reddy@novanta.com
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SOURCE Identiv
FAQ
What are the main objectives of the Identiv (INVE) and Novanta RFID partnership?
How will the INVE-Novanta partnership benefit medical device manufacturers?
What specific healthcare applications will the Identiv-Novanta RFID solutions target?
What technologies are being combined in the Identiv (INVE) healthcare partnership?
