Medtronic, Inc.'s (JOBS) Multi-Million Dollar Industrial Expansion In Juncos Generates 150 New Jobs

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Juncos, PR- The Vice President and General Manager of Medtronic Puerto Rico, Manuel Santiago, announced today a $6.3 million dollar expansion in their medical devices plant in Juncos where they will create 150 new industrial jobs while at the same time celebrating the manufacture of 4 million pace makers in Puerto Rico. The announcement was made in conjunction with the Secretary of Economic Development and Commerce (DDEC by its Spanish name), Honorable José R. Pérez-Riera and the Executive Director of the Puerto Rico Industrial Development Company (PRIDCO), Javier Vázquez-Morales. Medtronic will bring new products to manufacture in Puerto Rico that are based on pioneering technology for surgical procedures.

"Today we are sharing good news with the people of Puerto Rico where there is an announcement of the creation of 150 well paid high technology jobs in the biosciences industry that forms part of our integral Strategic Model for the New Economy,” said José R. Pérez-Riera, Secretary of Economic Development and Commerce.

The expansion of Medtronic, considered the medical device business that generates the most direct jobs in Puerto Rico, was made possible through the promotional efforts of PRIDCO which has established the medical devices industry as one of the most important to potentially create jobs.

“The medical devices industry is one of the sectors that have reflected the most industrial promotional activity in terms of job creation and expansion potential. This is confirmed by the new investment by Medtronic, which represents a vote of confidence in our investment climate and added value in Puerto Rico. In addition, the vote of confidence is notable when you have an industrial operation that has manufactured four million pace makers, making Puerto Rico one of the most important suppliers globally of this very important medical instrument to help improve the quality of life for many people,” expressed Javier Vázquez Morales, PRIDCO’s Executive Director.

The vice president of Medtronic Puerto Rico said “Puerto Rico is the only location in the world where five of the six global business divisions for Medtronic operate. This achievement would not have possible without the support of the Government of Puerto Rico.”

The activity also served to celebrate the manufacture of pace maker number (4) million, which was manufactured last week in the Juncos plant. Medtronic donated this pacemaker to Pedro Batista, a cardiac patient that is scheduled to receive this device during a surgery on November 24.

“Our principal goal is to continue saving millions of lives around the world, including maintaining the continual training and improvement of our best asset, which are our employees, who manufacture daily the best products that positively impact more lives around the world,” said Santiago

Santiago explained that recruitment of personnel for the new jobs has already begun and that the recruiting process will culminate in approximately 18 months. There are various positions, from engineers, supervisors, technicians, buyers, to manufacturing planners, and quality control personnel. The academic preparation required for these jobs varies from a high school diploma to bachelor and masters degrees.

The new products that will be manufactured in the Juncos plant pertain to the Surgical Technologies division, which specializes in surgical instruments for the neurological system, spine, ear, nose, throat, orthopedics and general surgery. The products manufactured in Puerto Rico are exported to diverse parts of the world and are destined, principally, to hospital institutions.

Medtronic established their first manufacturing operation in Villalba in 1974 with 75 jobs. Today, they operate five manufacturing plants in the island; two plants in Villalba, two plants in Juncos, and one in Humacao, which together generate more than 2,200 direct jobs. This business generates a volume of $7.0 million in raw material purchases from local suppliers, mainly for packing products. In addition, the business generates another $2.0 million in contracting local companies, such as validation, physical plant maintenance, security, transportation, and professional services, among others.

The Executive Director of PRIDCO informed that Puerto Rico counts with 56 medical devices manufacturing plants, which generate 14,613 direct jobs. This sector generates 44,570 direct, indirect, and induced jobs, representing approximately 5% of Puerto Rico’s Gross Domestic Product, 9.4% of total net revenue, and a reported exportation value for fiscal year 2009 of $3,649.9 billion.

About PRIDCO

The Puerto Rico Industrial Company (PRIDCO) is a public corporation dedicated to promote Puerto Rico as a destination for investment for businesses and industries on an international level. Since 1950, PRIDCO has lead the transition from an agrarian to an industrial economy. PRIDCO continues to stimulate the economy of Puerto Rico, focusing in the promotion of high technology industries, including biosciences, information technology, and the services sector. This attraction is possible due to the advantages that Puerto Rico offers, such as tax incentives, highly skilled labor, excellent infrastructure, and an attractive business climate.

About Medtronic

Medtronic is a global business leader in the development and manufacturing of medical devices, and specializes in chronic sicknesses. Providing products, therapies, and services that help to improve the quality of life of over (5) million patients annually. Their principal products are specialized to treat cardiac and vascular conditions, neurological disorders, chronic pain, vertebrae column disorders, diabetes, urological disorders, digestive system, and conditions in the eyes, nose, and throat. Their headquarters is in Minneapolis and they have research, manufacturing, formulation, and commercialization installations. Medtronic has a presence in more than 120 countries and count with 38,000 employees around the world.

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