Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


ENZTEC Announces Plans to Increase Corporate Growth

ENZTEC Announces Plans to Increase Rate of Corporate Growth

Company Experiences Continued Rapid Expansion and Invests in Plant and Employees

6 May 2014 -- Christchurch, New Zealand – Medical technology exporter Enztec announced aggressive growth plans after the closing of a $27.5 million debt financing by parent company Orthopaedic Synergy, Inc. (“OSI”).

“This is an exciting development for Enztec and will enable us to continue to scale the business at a faster rate,” said Paul Morrison, founder and General Manager of Enztec.

Mr. Morrison noted that Enztec recorded 39 percent revenue growth in 2013, and has increased its staffing levels and made significant investments in equipment to expand its manufacturing capabilities in 2014. “Finding appropriately skilled and experienced staff is one of our major constraints in the short to medium term,” he remarked.

Enztec has diversified its customer base over the last two years, with around one-third of its business coming from sales to sister company OMNI, and the remainder from other orthopaedic equipment suppliers around the world.

“Enztec has always had an international reputation for the quality of our instrument design and manufacturing, and our ability to respond quickly to the requirements of our customers, who are typically multinational companies with large global product programmes,” Mr. Morrison said. He added that interest in Enztec was exceptional at the recent meeting of the American Academy of Orthopedic Surgeons.

“Many of the orthopaedic companies are constrained in their ability to design, engineer and manufacture high-quality surgical instruments,” Mr. Morrison said. “Some of their orthopaedic implant product programmes are stalled by a lack of resources to develop and deliver appropriate instrument sets, which makes a design-to-delivery service like Enztec’s an increasingly attractive option.”

“We are delighted to be back on a high growth trajectory. The access to growth capital provided by OSI’s financing will enable us to add equipment and personnel at an even faster rate,” said Mr. Morrison.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news