Insulet Completes Acquisition of U.S. Manufacturing Facility in Acton, Massachusetts
February 15 2017 - 4:01PM
Business Wire
Facility to Support Long-Term Growth
Initiatives While Driving Increased Productivity and Quality
Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the
leader in tubeless insulin pump technology with its Omnipod®
Insulin Management System, today announced the Company has
completed the acquisition of a facility in Acton, Massachusetts to
establish a U.S. manufacturing location in the United States.
The state-of-the-art facility, when outfitted with
highly-automated manufacturing equipment, will provide capacity for
Insulet to manufacture on a single line up to 70 percent more pods
with up to 90 percent fewer headcount as compared to all four of
the Company’s current manufacturing lines at its contract
manufacturer in China. Insulet will begin build-out of the facility
and expects to begin production in 2019. The Company anticipates
the addition of hundreds of jobs in Massachusetts over the next
five years.
“This acquisition marks a major milestone in the execution of
our strategic plan to expand pod manufacturing, increase
productivity, improve quality and drive efficiency,” said Patrick
Sullivan, Chairman and Chief Executive Officer. “The addition of
U.S. production capabilities will improve our response time to
customers. This will be a significant improvement to our
manufacturing operations.”
Mr. Sullivan continued, “By expanding our manufacturing
capabilities in the United States, we will increase our capacity to
serve our customers while investing in and bringing jobs to the
region. We look forward to contributing to the economic vitality of
the region and playing a role in the community for years to
come.”
“We are excited that a fast-growing company like Insulet has
selected Acton for its U.S.-based manufacturing facility,” said
Matthew J. Selby, Director of Land Use and Economic Development,
Town of Acton. “Insulet’s decision to purchase and operate a
facility in Acton is reflective of the town’s commitment to
economic development and we welcome the new jobs this facility will
bring to our community.”
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD) is an innovative medical
device company dedicated to making the lives of people with
diabetes easier. Through its Omnipod Insulin Management System,
Insulet seeks to expand the use of insulin pump therapy among
people with insulin-dependent diabetes. The Omnipod is a
revolutionary and easy-to-use tubeless insulin pump that features
just two parts and a fully-automated cannula insertion. Insulet's
Delivery Systems business also partners with global pharmaceutical
and biotechnology companies to tailor the Omnipod technology
platform for the delivery of subcutaneous drugs across multiple
therapeutic areas. Founded in 2000, Insulet Corporation is based in
Billerica, Massachusetts. For more information, please visit:
http://www.myomnipod.com.
Forward-Looking Statement:
This press release may contain forward-looking statements
concerning Insulet's expectations, anticipations, intentions,
beliefs or strategies regarding the future. These forward-looking
statements are based on its current expectations and beliefs
concerning future developments and their potential effects on
Insulet. There can be no assurance that future developments
affecting Insulet will be those that it has anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond its control) or other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements, and other risks and uncertainties described in its
Annual Report on Form 10-K, which was filed with the Securities and
Exchange Commission on February 29, 2016 in the section entitled
"Risk Factors," and in its other filings from time to time with the
Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should any of its
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
Insulet undertakes no obligation to publicly update or revise any
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170215006221/en/
Insulet CorporationDeborah R. Gordon, 978-600-7717Vice
President, Investor Relations and Corporate
Communicationsdgordon@insulet.com
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