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Fagor Electrónica invests 2.4 million euros to position itself in the medical equipment market

Written by Klaudia Weiss   |   25 February 2022

Fagor Electrónica will invest 2.4 million euros over a period of two years -until 2024- in the Inn-Medical project which, together with other Spanish companies, will enable the cooperative to position itself in the medical equipment industry.

The initiative, which has received a loan from the Center for the Development of Industrial Technology (CDTI) in the amount of 2 million euros, is aimed especially at telemedicine (telecare systems), air purification machines and automatic PCR machines. "This new project allows Fagor Electrónica to enter a new market. It is a strategic decision. We have entered with the intention of staying," clarifies Francisco Javier Acinas, Director of the New Business Unit at Fagor Electrónica.

Among others, the cooperative offers the experience and know-how developed in the industrial field as a producer of machines and electronics to all those companies in the medical equipment industry. "The healthcare crisis has highlighted the great importance of state-level intercooperation. Many companies with international suppliers have run out of resources to continue their business. We want to offer solutions to all of them. We must not forget that we are a cooperative with more than 50 years of history, with great experience and social commitment", says Acinas. The Inn-Medical project has the collaboration of companies such as Antolin and ThyssemKrupp, among others.

Manufacture of respirators
In 2020, in the midst of confinement, the cooperative Fagor Electrónica became involved in the manufacture of mechanical ventilation equipment (ventilators). Specifically, it was in charge of the power supplies, so this is not the first time it has collaborated in the production of mechanical equipment. "Aware of the shortage of ventilators, we offered our help and know-how to companies in the sector. We had to produce 5,000 ventilators in 15 days, as a result of the pandemic situation. We did not hesitate. The situation required the commitment and involvement of everyone," admits Fagor Electrónica's New Business Director.

Fagor Electrónica invests 2.4 million euros to position itself in the medical equipment market