Eden Prairie Local News
    Facebook Twitter Instagram
    Monday, July 4
    • About
      • About EPLN
      • Team
      • EPLN in the News
      • Policies
    • Contact
    Facebook Twitter Instagram
    Subscribe
    Eden Prairie Local News
    • Home
    • Politics
    • Schools
    • Business
    • Construction
    • Sports
    • Outdoors
    • City
    • Calendar
    • Donate
    • Subscribe
    • More
      • Health
      • Spirituality
      • Community Service
      • Legacy
      • Obituaries
      • Arts
      • Family
      • Holidays
      • Letter to Editor
      • Listen
      • Jobs
    Eden Prairie Local News
    Home»Business»Stratasys collaborates during pandemic, makes acquisition
    Business

    Stratasys collaborates during pandemic, makes acquisition

    By Richard LeeDecember 29, 2020Updated:December 29, 20203 Mins Read
    Stratasys acquired San Francisco startup Origin's photopolymer platform and extensive material ecosystem in a total $100 million cash and stock deal in early December, 2020.

    While Aaron Pearson’s ride to work is predictable, his work as VP of Public Relations & Analyst Relations for Stratasys has been anything but this past year.

    “Living and working in EP is great,” he says.  “Eight minutes to work.  Never more, never less!”

    “It’s been a year of resilience for our employees,” Pearson reports.  “Working from home, lots of ups and downs.”  And plenty of activity related to COVID-19 for Stratasys, one of the world’s leading 3-D printing, or additive manufacturing, companies. Stratasys has four facilities and about 800 of its 2,000 employees in Eden Prairie.

    First, the good news: the company’s supply chain had only “spot disruptions, nothing too bad,” both for materials coming in and product going out. – Aaron Pearson, Stratasys VP of Public Relations & Analyst Relations

    Next, a couple of significant initiatives related to the pandemic: one coordinating the production and distribution of face shields for the healthcare industry, another for the mass production of nasopharyngeal swabs for virus testing.

    Advertisement
    Ad for Washburn-McReavy

    At the end of March, Stratasys began matching 3-D producers of protective shields with users.  The company publicly published design files and material specifications so its printers could produce protective shields and visors and donate them to local hospitals.

    Stratasys also invited requests for shields, which quickly poured in.  Stratasys ended up with 150 production partners making and donating over 16,000 shields per week.  The collaboration ultimately shipped over 275,000 face shields.

    3-D printing’s role in mass production was proven in a partnership between Stratasys and San Francisco-based Origin.  The sudden need to test millions of people for COVID-19 created an immediate shortage of nasal swabs for testing centers everywhere. 

    On December 11, 2020, Stratasys announced its purchase of Origin for a total transaction consideration of up to $100 million.

    Origin’s nasopharyngeal swab passed clinical trials at Beth Deaconness Medical Center in Boston in April.  The swabs were printed by Origin 3-D printers and marketed and distributed by Stratasys to its base of healthcare customers.  With over 500,000 tests run daily, production of these sterile, complex products ran into the millions. 

    Stratasys Ltd.

    Nasdaq Symbol: SSYS

    2019 Revenue ($ 000): 636,080

    2019 Income ($ 000):     (10,849)

    The pandemic brought downturns in some areas for Stratasys, like the aerospace and automotive markets. 

    But “…many people started thinking more about the potential of 3-D printing.  Executives at manufacturing firms became more aware of 3-D printing in their own companies and began asking what else they could be doing,” said Pearson. 

    “The pandemic has been a catalyst for 3-D printing.  Industry was moving this way, but we didn’t wish for a pandemic to help it along.  Still we’ve had lots of learning and collaboration.” 

    And contributed greatly along the way.

    Subscribe to EPLN for FREE!
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleEden Prairie Snow Event Declared: Dec. 29-30
    Next Article The Food Pulse responds to need: Free food distributed

    More to READ

    7 Mins Read

    EP Starbucks store pursues unionization

    June 28, 2022
    6 Mins Read

    From corn to cannabis, the Peterson Family Farm continues to grow and innovate

    June 23, 2022
    1 Min Read

    SouthWest Transit CEO search pauses

    June 21, 2022
    Add A Comment

    Comments are closed.

    Subscribe to get EPLN in your inbox for FREE!
    Recent Articles

    EPIC grapples with transportation problems

    July 2, 2022

    Hennepin sheriff candidates speak at forum

    July 2, 2022

    Eden Prairie legislative incumbents and opponents disagree about Supreme Court decision – but how far apart are they?

    July 2, 2022

    EP water tank topped off with ‘Tank of the Year Award’

    July 1, 2022

    Financial gifts to be matched at PROP in July

    July 1, 2022
    LETTERS TO THE EDITOR

    LETTERS TO THE EDITOR are welcome.

    Send letters, which have not been published elsewhere, to editor@eplocalnews.org.

    Letters may be up to 250 words and can also include pictures. Indicate clearly that you would like to share your letter with EPLN readers.

    • Facebook
    • Twitter
    • Instagram
    Eden Prairie Local News is a 501(c)(3) nonprofit organization EIN 85-4248265 | Copyright © 2020-2022
    • About
    • Policies
    • Jobs
    • Contact
    • Advertising
    • Subscribe
    • Donate

    Type above and press Enter to search. Press Esc to cancel.