Insulet Breaks Ground on New U.S. Manufacturing Facility
September 28 2017 - 6:00AM
Business Wire
$100 Million Investment in Massachusetts Will
Provide for Hundreds of Local Manufacturing Jobs at a 350,000
Square-Foot Facility
Insulet Corporation (NASDAQ: PODD) (Insulet or the
Company), the leader in tubeless insulin pump technology with its
Omnipod® Insulin Management System (Omnipod System), will host
a groundbreaking celebration today at its new, state-of-the-art
manufacturing facility on a 26-acre site in Acton,
Massachusetts.
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The new facility represents a significant investment in
Massachusetts, is expected to create hundreds of local jobs, and
will provide additional manufacturing capabilities closer to
Insulet’s large and growing U.S. customer base. The new U.S.
manufacturing operation is also expected to drive operating
efficiencies and increase productivity. The Company plans to begin
production at this location in 2019.
Massachusetts Governor, Charlie Baker, will join Insulet
speakers Patrick Sullivan, Chairman and Chief Executive Officer,
and Shacey Petrovic, President and Chief Operating Officer, to
celebrate the groundbreaking event. Other special guests include
Travis McCready, Chief Executive Officer of the Massachusetts Life
Sciences Center, dignitaries from the Commonwealth of
Massachusetts, and members of Insulet’s loyal “Podder” (customer)
community.
“We are excited to see Insulet’s continued growth in
Massachusetts, including the manufacturing jobs and innovations
that will come from this new Acton facility,” said Governor
Charlie Baker. “Insulet has called the Commonwealth home for nearly
20 years, investing in our communities, providing jobs and
developing technologies and products that better serve patients
around the globe.”
“Investing in our state-of-the-art manufacturing facility allows
us to increase our capacity to better support our Omnipod
customers, create local jobs and further strengthen our commitment
to Massachusetts,” said Patrick Sullivan, Chairman and Chief
Executive Officer. “We are experiencing significant growth across
our business, and this facility will help us achieve our long-term
objectives. I am grateful to Governor Baker and his staff, as well
as the Acton community, for supporting all of our efforts. We are
committed to providing world-class service to our Podders and
improving the lives of those living with diabetes.”
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD) is an innovative medical
device company dedicated to making the lives of people with
diabetes easier. Insulet seeks to expand the use of
insulin pump therapy with its Omnipod Insulin Management System
among people with insulin-dependent diabetes. The Omnipod System is
a revolutionary and easy-to-use tubeless insulin pump that provides
up to three days of non-stop insulin delivery, without the need to
see or handle a needle. Insulet's Delivery Systems
business partners with global pharmaceutical and biotechnology
companies to adapt 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
28, 2017 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/20170928005162/en/
Investor Relations and Media Contact:Insulet
CorporationDeborah R. Gordon, 978-600-7717Vice President, Investor
Relations and Corporate Communicationsdgordon@insulet.com
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