Terumo Corporation to invest £33mn into its subsidiary, Vascutek Limited
The Japanese medical device firm, Terumo Corporation, has announced its plans to invest £33mn (US$46mn) into one of its Scottish subsidiaries.
Vascutek Limited manufacturers medical implants, most often for those suffering aortic disease, nine miles from Glasgow.
The investment will fund the expansion of the companies headquarters and manufacturing facility in Inchinnan, Renfreshire.
The site will receive upgraded facilities, including two new cleanrooms – controlled environments.
The products manufactured by Vasucutek are used worldwide, with 90% exported across the globe.
The implants have saved or improved more than 2mn people across more than 100 countries.
“This is an extremely exciting time for the company as we look to secure further growth in the surgical grafts market,” remarked Paul Holbrook, President and CEO of Vascutek Limited.
“The investment from Terumo is testament to the quality, efficiency and excellent customer service delivered consistently by our team at Inchinnan and will allow us to further expand our business globally.”
“The decision to invest in our manufacturing facilities sends a strong signal about the health of our company and our prospects for the future.”