Nasdaq-listed Insulet to set up manufacturing facility in Johor Baru
02 Jun 2022
Nasdaq-listed tubeless insulin pump technology firm Insulet Corporation is setting up its new manufacturing facility in Johor Baru, to further strengthen its global manufacturing capabilities.
The firm is an innovative medical device company, producing the Omnipod Insulin Management System provides a unique alternative to traditional insulin delivery methods.
Businesswire on Wednesday (June 1) quoted Insulet executive vice president and chief operating officer Chuck Alpuche said the company was taking an important step to further diversify globally and ensure customers continue to have uninterrupted access to life-changing products.
“This new Malaysian factory will help support our fast-paced growth, robust innovation pipeline, and global expansion,” he said.
The new manufacturing facility, located in Johor Baru, will produce the company’s Omnipod Insulin Management System and include approximately 400,000 square feet of manufacturing space.
Insulet plans to invest approximately US$200 million over five years and hire more than 500 full-time employees once the facility is operating at full capacity.
The groundbreaking ceremony is scheduled for Thursday, where Insulet will unveil plans to source environmentally responsible and resource-efficient materials for the new facility.
The architectural design includes sustainable elements that qualify for Green Building Initiative (GBI) and Leadership in Energy and Environmental Design (LEED) certification.
Insulet’s regional sourcing strategy includes the use of local suppliers for component parts to support the company’s global expansion.
Insulet expects the manufacturing facility to be operational by the middle of 2024.
Source: The Edge Markets