"I can kind of do anything they need me to do," Demers told the Arizona Republic.
In 81 games last season, Demers had 28 points (nine goals, 19 assists), 53 penalty minutes and a minus-14 rating, his worst plus/minus in eight NHL seasons. He has 171 points (37 goals, 134 assists) in 504 games for the Panthers, Dallas Stars and San Jose Sharks.
"We are very pleased to add Jason to our blueline corps," general manager John Chayka told the Coyotes website. "Jason is a skilled, right-handed shot defenseman who moves the puck well and has good offensive ability. He will be a great addition to our team."
Demers and McGinn, who were teammates with the Sharks from 2009-12, talked on FaceTime after the trade.
"He was excited that he was coming here so he could play with me," McGinn told the newspaper. "I let him know that I was the one going the other way, so he didn't know."
McGinn, 29, has two years remaining on a three-year, $10 million contract he signed with the Coyotes on July 1, 2016.
"Jamie brings size, skill and grit to our lineup and makes us a tougher team to play against," Panthers general manager Dale Tallon said in a statement. "He's played in over 500 NHL games and possesses a strong game on both sides of the puck. Jamie will be a welcome addition to our club as we move forward through training camp and into the season."
McGinn had 17 points (nine goals, eight assists) in 72 games for Arizona last season and has 184 points (100 goals, 84 assists) in 522 games during nine NHL seasons with the Coyotes, Sharks, Buffalo Sabres, Anaheim Ducks and Colorado Avalanche.
"I thought I was being called in to say that they were happy with how I came in prepared ready for training camp and everything," McGinn said. "First thing [Chayka] said was, 'We made a trade today,' and I've been part of trades before so I knew what was coming next. Caught me off-guard but very excited."