LCD panel maker Innolux Corp (群創) has spun off its medical display team to create a new entity, InnoCare Optoelectronics Corp (睿生光電), as it aims to become an even greater presence in the niche market of displays used in X-ray applications.
InnoCare, based in the Southern Taiwan Science Park (南部科學工業園), was set up in April with paid-in capital of NT$200 million (US$6.36 million).
The start-up has a workforce of more than 100, while Innolux president James Yang (楊柱祥) doubles as chairman of InnoCare.
“InnoCare represents the beginning of Innolux’s efforts to incubate more start-up companies,” Innolux chairman Jim Hung (洪進揚) said in a statement yesterday.
The new company is targeting producing displays used in medical devices such as X-ray equipment as the market is expected to deliver an annual growth rate of 20 percent over the next few years, an Innolux executive told reporters last week.
Innolux has spent three years setting up integrated production lines and a comprehensive supply chain that includes the production of key components and displays, as well as X-ray display module assembly.
Innolux saw its ranking for displays used in X-ray applications climb to No. 1 in the world after the company acquired IBM Corp’s LCD business in 2001, the statement said.
InnoCare supplies diverse displays for X-ray devices, including 10 inch by 12 inch, 14 inch by 17 inch and 17 inch by 17 inch displays, the statement added.
Hung, who has a strong background in investment banking, assumed the Innolux chairmanship in June last year and the company subsequently stepped up its efforts to develop its niche businesses into new companies.
In March this year, Innolux set up CarUX Technology Inc (群豐駿科技) in the Southern Taiwan Science Park to supply automotive displays, such as central information displays, heads-up displays, rear mirrors and in-vehicle entertainment systems.
Ting Chin-lung (丁景隆), head of Innolux’s technology development center, also serves as chairman of CarUX, which has paid-in capital of NT$200 million, according to its registration document submitted to the Ministry of Economic Affairs.
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