Facility to Support Long-Term Growth Initiatives While Driving
Increased Productivity and Quality
BILLERICA, Mass.--(BUSINESS WIRE)--
Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the leader
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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215006221/en/
Deborah R. Gordon, 978-600-7717
President, Investor Relations and Corporate Communications
Source: Insulet Corporation
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