IN: TriMedx to Invest $21.5M to Expand, Create 100+ High-Wage Jobs
4 Nov, 2016
Lt. Governor Eric Holcomb joined executives from TriMedx, a provider of healthcare technology management services, as the company announced plans to expand its operations in Indiana, creating up to 108 new high-wage jobs by 2020.
“Indiana’s life sciences industry is advancing new solutions and changing the face of healthcare thanks to companies like TriMedx,” said Lt. Governor Holcomb. “Indiana is the world’s leader in medical device manufacturing and ranks second in the nation for life science exports. The state’s industry secured 1,211 patents in 2014 alone while supporting over 56,500 Hoosier jobs. TriMedx serves healthcare providers across the country, but is choosing to expand its headquarters here in Indiana because the state has a pro-growth business climate and a highly-skilled Hoosier workforce that will be a driving force in the company’s future success.”
TriMedx will invest more than $21.5 million to grow and enhance its Indiana operations, investing in its 78,000 square-foot corporate headquarters in northwest Indianapolis as well as its Hoosier workforce statewide. The company, which provides innovative management programs, medical equipment life cycle solutions and medical device maintenance and repair, serves more than 1,800 healthcare facilities across the globe and will exceed $500 million in revenue for 2016. In order to accommodate both its growing team and increasing demand from healthcare providers nationwide, TriMedx will invest in workforce training and additional infrastructure development and improvements, including information technology (IT) hardware and software.
TriMedx was founded in Indianapolis in 1998 from the clinical engineering department of St. Vincent Hospital and has since grown its business to become an industry leader. The company currently employs 1,500 associates nationwide and, as part of its growth plans, will create 108 new full-time jobs in Indiana. New positions are expected to offer average salaries more than 80 percent higher than the state’s average wage.
"We are thrilled to be further expanding in Indiana," said Greg Ranger, chief executive officer of TriMedx. "TriMedx has deep roots in Indiana. We appreciate the business-friendly climate, and our associates find Indiana a wonderful place to live and work."
TriMedx offers its associates a values-based environment and is actively involved in the community. Associates are encouraged to volunteer in company-sponsored community events, and TriMedx partners with national and local organizations, including Habitat for Humanity, Dress for Success, Thrive360, Gleaners Food Bank and many others. Additionally, TriMedx and its associates actively support the charitable mission of TriMedx Foundation, which offers medical equipment repair and maintenance assistance to hospitals and clinics in underserved communities in the U.S. and abroad.
"TriMedx has become a recognized leader in medical equipment management through their commitment to innovation and efficiency," noted Indianapolis Mayor Joe Hogsett. "Today's announcement reinforces that Indianapolis companies are identifying market needs and developing outside-the-box solutions to tackle these challenges. We wish TriMedx continued success in their expansion."
The Indiana Economic Development Corporation offered TriMedx up to $1,150,000 in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis will offer additional workforce assistance at the request of Develop Indy, a business unit of the Indy Chamber.
Indiana's life sciences industry contributed $62 billion to the state's economy in 2014, increasing nearly twofold since 2002. According to BioCrossroads, the state is the second largest exporter of life sciences products in the U.S., totaling $9.9 billion and accounting for nearly one-third of Indiana's total exports. Nearly 1,700 companies in Indiana operate in the industry, supporting more than 56,500 Hoosier jobs with average wages above $95,000 annually.
Created by healthcare for healthcare, TriMedx understands that patients are the number one priority. Headquartered in Indianapolis, TriMedx started as a hospital clinical engineering department focusing on reducing expenses, optimizing service and enhancing the patient experience through innovative medical equipment management programs. Today, TriMedx is recognized around the globe as a leader in healthcare technology management.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.