Precision ADM receives strategic US private investment from AM industry veterans
Plans to expand manufacturing of medical and aerospace parts and engineering services
Canada (Winnipeg) based metal AM service provider Precision ADM is further expanding its medical and aerospace operations after receiving a strategic US private investment from Andy Christensen and Joe Allison, two AM industry veterans. Interestingly both Christensen and Allison have founded companies that were later acquired by industry leaders 3D Systems (Christensen) and Stratasys (Allison).
This investment will provide added capital to further the Company’s aggressive growth strategy in the medical device and aerospace sectors, including securing additional manufacturing capacity, quality systems and material selection for serial production. Additionally, this investment grants the Company the ability to further implement Industry 4.0 strategies.
Over the past few years, Precision ADM has progressively and significantly expanded its metal AM capacity by integrating new EOS systems and by obtaining medical certifications for 3D printed parts. The company is also very active in producing content that highlights the benefits and requirements of additive manufacturing.
“I am very grateful to Andy and Joe for their investment and their confidence in Precision ADM as they are both true additive manufacturing Pioneers in the medical and aerospace industries over the last 25 years,” said Martin Petrak, Chief Executive Officer. “Our customers have already come to expect the highest quality and greatest service from us, and I believe this investment will truly enhance their additive manufacturing experience.”
Andy Christensen, Founder and President of Medical Modeling Inc., has spent his entire career focused on developing and expanding the medical applications of additive manufacturing. Medical Modeling was acquired by 3D Systems in 2014 and contributed to the creation of a new business vertical for 3D Systems in the Healthcare sector. Andy left 3D Systems in 2015 to pursue other interests.
“It’s a pleasure to be aligned with Precision ADM, their great team and vision for additive manufacturing,” said Mr. Christensen. “Additive metals in the orthopedic, spine and craniomaxillofacial space is in a high growth phase with ample opportunity in serial and patient-matched implants.”
Joe Allison co-founded Solid Concepts in Valencia, CA in 1991 which lead the 3D printing industry for many years as a parts manufacturer and software provider. Solid Concepts was acquired by Stratasys in 2014, then merged with Harvest Technologies and RedEye to create Stratasys Direct Manufacturing, where most recently Mr. Allison served as CEO.
“Precision ADM is well positioned to aggressively expand 3D printing into new medical and aerospace applications,” said Mr. Allison. “The executive team has the vision, experience and passion to make a material difference in this industry.”
