Insulet Corporation (NASDAQ: PODD), a Massachusetts-based medical device company specializing in tubeless insulin pump technology utilizing its Omnipod® Insulin Management System, recently announced new plans to build a highly-automated manufacturing facility in the U.S. in order to provide more production capacity in support of its existing product range and impending new product launches. The new manufacturing facility is expected to be operational in 2019.
In a recent news release, Patrick Sullivan, president and CEO of PODD, stated, “The establishment of our U.S. manufacturing operation will support our goal to be a world-class high-quality, high-volume, low-cost manufacturer. We are making this investment to provide redundancy and additional capacity to support our exciting growth plans.”
The company’s new U.S. operation will allow lower production costs while improving manufacturing reliability. In addition to supporting growth and new product launches, the operation is in line with PODD’s objectives mentioned above.
Sullivan added, “This highly-automated operation will accelerate efficiency and effectiveness of our global manufacturing operations and supply chain and help pave the way to gross margin of over 65% in the coming years.”
For more information, visit www.MyOmniPod.com
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