Medical Device Manufacturer to Invest $4.8 Million, Create 40 New Jobs Over Five Years
NASHVILLE – Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty today joined with officials from Shelby County to announce the decision by Launch Medical to expand in Bartlett, Tenn. The company will invest $4.8 million to fit out an existing building on Wolf Lake Road in Bartlett, creating 40 jobs during a five-year period to manufacture medical device prototypes.
“I’m pleased these technically-focused, good paying jobs are being created right here in our state,” Haslam said. “Launch Medical is helping us on our way to making Tennessee the No. 1 location in the Southeast for high quality jobs.”
“We have an exceptional business climate in Tennessee, and existing industries continue to be one of our most valuable assets and effective champions for our state,” Hagerty said. “I appreciate Launch Medical’s continued and growing investment and the additional jobs that will be created for Tennesseans.”
Launch Medical is a medical device product development firm focused on assisting surgeon inventors to develop their ideas into marketable products. Founded in 2007, the company began as a medical device incubator, offering unique opportunities for surgeon inventors to develop new ideas for medical devices. In 2010, Launch Medical shifted from product development to the manufacturing market and partnered with Elite Medical to move forward as a strategic alliance to manufacture and distribute medical implants and instrumentation.
“Bartlett has been the perfect fit for our company,” Gary Stavrum, president, Launch Medical, said. “We thank state and local officials for making this expansion a reality and look forward to continual success in Shelby County.”
“This expansion is a testament to the growth this community is experiencing in the medical device industry,” Clay Banks, director of Economic Development, Bartlett Area Chamber of Commerce, said. “Over the past decade, Northeast Shelby County has emerged as Tennessee’s ‘Life Science Corridor’ and one of North America’s leading centers for innovation in medical device technology.”
“Launch Medical’s expansion is great to see in this economy,” said Tracy Speake, managing partner, Paradigm Realty Advisors, LLC, whose company represented Launch Medical. “It’s a testament to the economic development professionals in Bartlett, Shelby County and the state of Tennessee.”
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go towww.tn.gov/ecd.