Bioventus, a global medical device manufacturer, will invest $9.1 million to expand its existing operations in Shelby County, Tennessee. The project is expected to create 40 jobs over the next five years.
Through this expansion the company will be able to meet its growing customer demands as well as add to its overall product portfolio, which focuses on medical product development around three segments: pain treatments, restorative therapies and surgical solutions.
“In 2022, Bioventus will celebrate its 10th year in the Memphis area, and we are pleased to be supporting this expansion with new jobs and additional investment in the community as we continue to grow serving clinicians and helping patients return to active lives worldwide,” Miguel Beltran-Delgado, senior vice president of operations, Bioventus said.
“Each year, Tennessee’s medical device manufacturers export more than $4 billion in products, the second highest amount among states in the U.S. This expansion by Bioventus will contribute to one of our state’s strongest sectors, and we appreciate the company for choosing to grow and further invest in West Tennessee,” TNECD Commissioner Bob Rolfe added.
Today, the company employs more than 1,100 people worldwide through its offices in Tennessee, North Carolina, California, New York, Israel, Canada and the Netherlands, where the company runs its international headquarters.
“TVA and MLGW congratulate Bioventus on its decision to expand operations in Shelby County. Helping to support companies, like Bioventus, create new jobs and invest in the region is fundamental to TVA’s mission of service. We are proud to partner with the Memphis Chamber, Memphis/Shelby County EDGE and Tennessee Department of Economic and Community Development to further that mission and celebrate this announcement together,” John Bradley, TVA senior vice president of Economic Development added.