- Global medical device manufacturer to invest more than $9 million over five years
- Expansion project represents the creation of 40 new jobs in Cordova
NASHVILLE Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Bioventus announced today the company will expand its existing operations in Shelby County.
Headquartered in Durham, North Carolina, Bioventus will invest $9.1 million and create 40 new jobs in Cordova over the next five years.
Through this expansion, the global medical device manufacturer 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. This year, products from Bioventus will help more than 500,000 people regain active lifestyles.
Established in 2012, Bioventus is a global leader of innovations for active healing. 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.
In the last five years, TNECD has supported more than 70 economic development projects in Shelby County resulting in nearly 10,000 job commitments and roughly $3 billion in capital investment.
QUOTES
“Bioventus is a leading medical device manufacturer that we are proud to have in Shelby County. As Greater Memphis continues to establish itself as a global hub for the medical device industry, we welcome these high-quality jobs and continued investment in Cordova.” – Gov. Bill Lee
“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
“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
“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
“The medical devices Bioventus will manufacture in this growing facility will help increase the quality of life for hundreds of thousands of people. I am grateful Bioventus will be expanding here in Shelby County, and I look forward to the high-quality jobs and economic development that will result from this investment.” – Sen. Brian Kelsey (R – Germantown)
“I’m very excited about the Bioventus expansion. This expansion fits in well with the large bio-medical industry in Shelby County. Their innovative therapies have been industry leading and the possibility of 40 new jobs and a $9 million investment is great news for their patients and for Cordova.” – Rep. Dwayne Thompson (D – Cordova)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter and Instagram: @tnecd. Like us on Facebook: facebook.com/tnecd.
TNECD Media Contact
Lindsey Tipton
Public Information Officer
(615) 339-6608
[email protected]
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