Medtronic Announces $50 Million USD Post-Hurricane Expansion In Puerto Rico

Medtronic Announces $50 Million USD Post-Hurricane Expansion In Puerto Rico

Medical device manufacturer Medtronic (NYSE:MDT) last week announced a new expansion in the company’s facilities located in Juncos, Puerto Rico with an investment of more than $50 million USD and the opportunity to generate hundreds of new jobs.

“Medtronic is an example of the investment commitment that the biosciences sector has with the island. It began its operations in Puerto Rico with 50 employees, today it retains a workforce of more than 5,000 professionals and with a commitment to generate between 500 and 600 jobs in the next years. This multi-million dollar expansion will allow hundreds of Puerto Ricans to have a new job opportunity, well paid in a company that promotes the professional growth of their workers,”said Secretary of the Department of Economic Development and Commerce (DDEC), Manuel A. Laboy Rivera

The new investment will include new equipment and machinery to increase productivity and expand manufacturing capabilities for devices to treat chronic conditions such as cardiovascular disease and diabetes.

For its part, the governor reaffirmed the public policy commitment of the Government of Puerto Rico, to continue the implementation of initiatives that promote and facilitate economic development through multiple channels; local, national and international.

“The biosciences sector in Puerto Rico generates over 45 percent of industrial jobs and contributes to 34 percent of the Gross Domestic Product (GDP). I appreciate Medtronic’s confidence with the investment climate offered by Puerto Rico and for valuing the workforce of our workers who are highly qualified and committed,” said Governor Wanda Vázquez Garced.

Félix Negrón, Vice President of Operations for Medtronic Puerto Rico, said, “Medtronic has been in Puerto Rico for more than four decades, and we are proud to see how our growth plan has expanded our presence in the country and contributed to economic development. of the Island. This new investment is based on this trajectory and will allow us to continue creating significant innovations to advance our mission to relieve pain, restore health and extend the lives of millions of people around the world. Our operations in Puerto Rico, our facilities and our people, are key in our search to fulfill that mission.”

In addition to the Juncos plant, Medtronic maintains manufacturing operations in Villalba, Ponce and Humacao, where they manufacture catheters and pacemakers, as well as devices to treat spinal and cervical conditions and diseases.

Photo of MiniMed 530G with Enlite courtesy of Medtronic

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