Growth Centre: Advanced Manufacturing (AMGC)Case study from: Growth Centres Success Stories
At just a fifth of the weight of a regular magnetic resonance imaging (MRI) machine, Magnetica’s innovative new 3 Tesla (3T) extremity MRI system is a revolution in MRI technology. The digital production of this new technology is being fast tracked with the support of the Industry Growth Centres Initiative.
Business in focus: Magnetica
The cutting edge product has the potential to transform the MRI process, freeing up larger whole-body MRI machines to focus upon full body scans. To meet the predicted demand, Magnetica needed to accelerate entry to the market and scale production.
As a business operating in one of Australia’s six growth sectors, Magnetica was able to access assistance and co-investment from the Advanced Manufacturing Growth Centre (AMGC) for a project to digitise the manufacturing process of critical sub-systems of the MRI machine. This project is digitising and automating key aspects of the production of radio frequency (RF) and gradient coils, enabling Magnetica to be more productive and competitive with an increasingly digitised manufacturing value chain.
With the support of AMGC, Magnetica is saving on production costs, accelerating production scale-up, and is also expecting to increase its annual product revenue, relating to the Original Equipment Manufacturing market, from $100,000 to more than 1 million.
Magnetica is just one of the many businesses across six sectors unlocking its success with Australia’s Industry Growth Centres Initiative. If your business has unrealised potential, now could be your time.
“AMGC’s support for the project has enabled us to undertake activities at an earlier timeframe than would otherwise have occurred, thus advancing our capabilities at an accelerated rate. We can now exploit this to build our business more quickly and achieve customer deliverables with more confidence in terms of timeframes and workloads.”
— Magnetica CEO, Duncan Stovell