Paragon Medical, a global provider of medical components through 3D printing, started construction on a new 34,000 square foot additive manufacturing facility in Pierceton, Indiana. The project will be supported by an initial investment of $16 million with an anticipated total investment of $19 million over the next five years.
Expected to be fully operational by the end of 2022, the company’s new facility will offer manufacturing and operational space, according to company officials. The location will be dedicated to 3D printing with an initial focus on manufacturing porous titanium implants and quickly expanding into additional metals and polymers for various medical device applications.
"Additive manufacturing is integral to the future of medical manufacturing," said Simon Newman, CEO of MW Industries, Paragon Medical's parent company. "This new facility will allow us to provide industry-leading technology and processes for metal additive manufacturing. We'll be able to produce lighter, more complex medical parts faster, helping our customers provide solutions that advance the entire healthcare industry."
The project is supported by the City of Pierceton, NIPSCO, and the IEDC. The City of Pierceton has provided tax abatement incentives, NIPSCO has provided utility discounts, and the Indiana Economic Development Corporation has provided incentive-based tax credits as well as committing performance-based support from the Hoosier Business Investment (HBI) tax credit program.
"Indiana's reputation as the Orthopedics Capital of the World continues to grow thanks to companies like Paragon Medical," said David Rosenberg, Executive Vice President for the Indiana Economic Development Corporation (IEDC). "Their commitment to grow in the Hoosier state shows the confidence Paragon Medical has in our business-friendly environment and talent pipeline, and we look forward to continuing to work with the company as they continue to grow in Indiana."
Additive manufacturing technology and processes will be provided through Paragon Medical's partnership with 3D Systems. 3D Systems, a technology and process leader in 3D printing with a specialty in medical devices, brings over 30 years of experience in 3D printing within the manufacturing industry.