WARSAW, Ind. (May 28, 2020) – Nextremity Solutions Inc., a privately held extremity musculoskeletal product development company, announced plans today to expand its operations in the Warsaw Technology Park, creating up to 111 new jobs by the end of 2024.
“Indiana has a rich tradition of strength in life sciences, ranking second in the U.S. for these critical exports like pharmaceuticals, medical devices and orthopedics,” said Indiana Secretary of Commerce Jim Schellinger. “Nextremity Solutions’ commitment to innovating and growing its operations in Indiana is a testament to our industry strength and skilled talent pipeline. The company’s expansion will create more high-quality career opportunities for Hoosiers while providing life-enhancing products for customers across the U.S.”
Nextremity Solutions is an orthopedic device company based in Warsaw, which is known as the Orthopedic Capital of the World. As part of its growth, the company will partner with West Hill Development to invest more than $4.5 million to transform the West Hill Development shell building at 1195 Polk Drive in the Warsaw Technology Park. The new building will allow Nextremity Solutions to integrate its product development and manufacturing business operations, both currently located in Warsaw, into one location. Construction, which is already underway, is expected to be completed by April 2021. The company plans to begin transitioning employees to the new facility before the end of 2020.
“This is such an exciting time for our team at Nextremity Solutions as we expand our capabilities to create, manufacture and deliver innovative solutions to our strategic alliance partners and to other orthopedic companies,” said Nextremity Solutions President and CEO Rod K. Mayer. “The shell building provides the ideal location for us as we create a synergistic partnership with Lakeland Technology going forward.”
Nextremity Solutions currently employs 24 associates and will begin hiring for development and manufacturing positions as needs arise. Positions will be announced on the company’s website in the coming months.
Nextremity Solutions was founded in 2006 and in 2016 announced their i3® Strategic Solutions strategy that focused their efforts on product development and micro-commercialization of innovative technologies. Nextremity is committed to delivering Revenue Ready solutions that include effective packaging and delivery systems, and creating effective marketing and educational support materials, while providing products with proven sales and clinical efficacy to their industry partners.
Earlier this year, the company announced the acquisition of Lakeland Technology Inc., an ISO 13485 certified contract manufacturer for the medical device industry that offers a wide range of services including design for manufacturability, precision machining, finishing, inspection, and packaging of instruments, prototypes, custom instruments, and is known for their ability to build complex assemblies.
“We are excited to support a locally-owned, locally-grown company like Nextremity Solutions pursuing an aggressive growth plan in our community,” said Warsaw Mayor Joseph M. Thallemer. “We had companies like this one in mind when we first sought to establish the Warsaw Tech Park nearly 10 years ago.”
Warsaw Technology Park, one of only two dozen locations to receive a designation through the Certified Technology Park program from the Indiana Economic Development Corporation (IEDC), is home to the Ivy Tech Warsaw campus, and represents a partnership between the Warsaw Redevelopment Commission and locally-based West Hill Development, which has constructed three shell buildings in the tech park.
The IEDC offered Nextremity Solutions Inc. up to $1.6 million in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The Warsaw Redevelopment Commission and Warsaw Common Council will offer additional incentives.
“This announcement demonstrates our ongoing focus on supporting the future of the orthopedic industry in Warsaw,” said Kosciusko Economic Development Corporation CEO Alan Tio. “We will continue to draw on our hard to match industry supply chain and workforce, competitive state and local business climates, and nationally known quality of life amenities, to build on our legacy as the ‘Orthopedic Capital’.”
About Nextremity Solutions, Inc.: Nextremity Solutions, Inc. is a privately held strategic commercialization organization with a focus on the extremity musculoskeletal space, offering innovative solutions and Revenue Ready® products for various extremity musculoskeletal applications for the benefit of its industry partners. The Company’s procedure-ready, sterile implant systems include uniquely precise, proprietary technology designed to achieve repeatable and superior clinical outcomes.
About IEDC: 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 15-member board chaired by Governor Eric J. Holcomb, 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.
About Kosciusko Economic Development Corporation: Kosciusko Economic Development Corporation (KEDCo) was formed in 1984 as Kosciusko Development, Inc. to promote economic and community development throughout Kosciusko County. KEDCo is the economic development corporation serving Kosciusko County and all the municipalities therein. Our mission is to convene, build, and show our community’s economic growth resources. For more information, visit: www.kosciuskoedc.com.
Dave Temple (Nextremity Solutions) – 574.635.3022 or firstname.lastname@example.org
Erin Sweitzer (IEDC) – 317.296.2556 or email@example.com
Alan Tio (KEDCo) – 574.265.2601 or firstname.lastname@example.org