Financial
News release
TopNew facility will meet growing demand for Terumo’s Angio-Seal® Vascular Closure Device, one of the leading vascular closure devices worldwide.
$30 million investment further demonstrates Terumo’s commitment to its global healthcare provider customers and their patients.
Local operations employs 340 associates.
SOMERSET, NJ and CAGUAS, PR – February 14, 2024 – Terumo Medical Corporation (TMC) broke ground recently on a new manufacturing facility at its Caguas, Puerto Rico site. This expansion is another investment by Terumo as global demand for the company’s Angio-Seal® Vascular Closure Device (VCD), manufactured in Puerto Rico, continues to increase. Angio-Seal is one of the leading vascular closure devices on the global market, used on millions of patients globally. It provides active closure for rapid and reliable hemostasis in patients who have undergone angiographic or interventional procedures. It also has been proven to accelerate patient mobility and enable same-day discharge, which means patients have the potential to be home for recovery soon after their procedures.
The new, 64,000-square-foot expansion will be built adjacent to the existing site and is scheduled to be completed by summer 2025. The existing, 22,000-square-foot building will also be renovated to support related production administration requirements.
“Terumo is a global leader in entry site management, and our Angio-Seal Vascular Closure Device is an important, highly regarded product within this category,” said Jim Rushworth, President & CEO, Terumo Medical Corporation. “Expanding production capacity in Puerto Rico will enable us to meet growing demand. It is yet another strategic investment by Terumo to set us up for future growth, maintain our global success, and better support our healthcare-provider customers and, importantly, their patients.”
“This new building deepens our commitment to our customers, to the island of Puerto Rico, and to our 340 dedicated Terumo associates who work each day to provide for our customers,” said Rafael Benitez, Senior Director, TPR Site Leader. “We are very proud to be part of this community, where we have operated as a Terumo subsidiary since 2017, and look forward to a long and lasting partnership.”
About Terumo Medical Corporation
Terumo Medical Corporation (TMC) is a subsidiary of Terumo Corporation, founded in 1972 as the United States expansion of our larger Tokyo-based parent. For over 50 years, TMC has continued the Terumo mission of offering the best possible solutions to healthcare providers and the people they serve. TMC provides products and services across four divisions: Terumo Health Outcomes (THO), which provides healthcare systems with solutions designed to reduce care variation, improve quality metrics, minimize cost and maximize revenue; Terumo Interventional Systems (TIS), which offers solutions for entry site management and lesion access; Terumo Medical Products (TMP), which provides devices for injection and infusion therapy; and Terumo Pharmaceutical Solutions (TPS), which develops drug delivery devices.
About Terumo
Terumo (TSE: 4543) is a global medical innovation company. Guided by an unwavering commitment to patients, and driven by the passion of our associates, we strive to fulfill our Group Mission of “Contributing to Society through Healthcare.” Founded in Tokyo in 1921, we provide a comprehensive range of solutions in the fields of therapeutic procedures, hospital operations, and life sciences in more than 160 countries and regions.