Microbot Medical Inc

Sanmina shares jumped 5.4% after Microbot Medical selected the company as a manufacturing partner for its LIBERTY Endovascular Robotic System. Sanmina will serve as an additional manufacturing site for the FDA-cleared, single-use, remotely operated robotic system used in certain vascular procedures. The agreement aims to increase production capacity to meet rising customer demand and is part of a cost-reduction effort for Microbot. For Sanmina, the partnership represents a new business contract in the medical device manufacturing sector.

Microbot Medical has entered into a Letter of Agreement with Sanmina Corporation to manufacture the LIBERTY Endovascular Robotic System, the only FDA-cleared single-use, remotely operated robotic system for peripheral endovascular procedures. The partnership is expected to increase manufacturing capacity to meet rising demand from existing and new accounts in the U.S. and international markets, while also supporting the company's cost reduction strategy. Sanmina will serve as a second manufacturing site, which Microbot anticipates will improve operating efficiencies, lower costs, and expand gross margins. The move comes as the company sees increased utilization across several Eastern U.S. states, plans to expand its sales footprint to the Western U.S. later this year, and pursues additional regulatory clearances including the CE Mark following recent approval in Israel.