Medical device manufacturer ProMed Molded Products will invest $5.4 million to expand its operations in Dorado, adding 143 new jobs in the process, the Economic Development and Commerce Department announced Tuesday.
The Minneapolis-based company manufactures silicone parts for medical instruments, which it sells to a number of client companies on the island including Medtronic, Boston Scientific and St. Jude, EDC Secretary José Pérez-Riera said.
“The medical device industry continues gaining strength on the island, and Promed’s mot recent investment confirms that,” said Pérez-Riera, who also heads the Puerto Rico Industrial Development Company.
Promed’s investment is also being hailed for the resulting new technology that it will attract to Puerto Rico in benefit of the local medical device supply chain.
“Through this new investment, we continue stimulating the growth of the medical device industry in Puerto Rico,” Pérez-Riera said, noting that there are about 15 such companies operating in Puerto Rico.
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