Insulet Breaks Ground On New U.S. Manufacturing Facility
Published: Sep 28, 2017
$100 Million Investment in Massachusetts Will Provide for Hundreds of Local Manufacturing Jobs at a 350,000 Square-Foot Facility
BILLERICA, Mass.--(BUSINESS WIRE)--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.
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.
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.
Investor Relations and Media Contact:
Deborah R. Gordon, 978-600-7717
Vice President, Investor Relations and Corporate Communications