Vascutek Limited, a near Glasgow, Scotland, UK-based raised a £33m investment from its parent company, Terumo Corporation.
The investment has been approved for the major expansion of Vascutek’s headquarters and manufacturing facility at Inchinnan, Renfrewshire to help drive further growth for the global medical device company.
The investment will be used to scale up existing facilities at the site, including two new ‘cleanrooms’ – a carefully controlled manufacturing environment required for the production of the highest quality medical implants.
Other aspects of the investment include equipment for the cleanrooms and a new sterilisation suite. The first phase of the site development is due to start in April 2018 and is scheduled for completion in 2021.
Established in 1982 and led by Paul Holbrook, President and CEO, Vascutek produces a wide portfolio of implants with a particular focus on treating patients with aortic disease. It applies advanced and innovative technologies to develop its products which include an extensive range of sealed woven and knitted polyester grafts for peripheral, abdominal and cardiothoracic surgery, ePTFE grafts and a custom AAA stent graft system.
Vascutek employs around 800 staff at its Inchinnan base.
The new cleanrooms will be used in the manufacture of polyester grafts and Thoraflex™ Hybrid products.
Vascutek is a subsidiary of the Terumo Corporation of Japan, a global medical device company which was founded in 1921 and currently has over 22,000 employees worldwide. It acquired Vascutek in 2002.