Medical products maker plans to consolidate offices in Wayne, adding 350 jobs.New Jersey has a reputation in medical devices circles for its talent in manufacturing material for medical grafts, dating back to the early 1950s with companies like Meadox Medicals, of Oakland.
That is one big reason Swedish medical products maker Maquet Cardiovascular is consolidating its manufacturing and marketing operations in Wayne, expanding its headcount in the state by about 350 to touch 1,100 by yearÂs end, according to Philip Freed, senior director for marketing communications. Maquet has been operating in New Jersey for many years, and earlier this year acquired medical devices maker Datascope, in Montvale; it has offices also in Mahwah and Fairfield.
ÂNew Jersey has been known as the capital for developing woven material used in vascular grafts,Â Freed said. ÂPeople here know how to work with grafts, and have the manufacturing skills in woven material for them.Â Maquet now owns Meadox, having bought it less than two years ago from Boston Scientific (which had bought it in 1995), he added.
MaquetÂs new jobs and its proposed new investments of $45 million will bring it $3.9 million in the stateÂs Business Employment Incentive Program grants, according to the New Jersey Economic Development Authority.
The EDA will formally announce the expansion at MaquetÂs Wayne headquarters on Wednesday, with local political leaders in attendance. In a statement, Gov. Jon S. Corzine said the companyÂs decision Âis evidence Â that even during a global economic recession, New Jersey remains a desirable location for business growth and expansion.Â
MaquetÂs Wayne operations will take on employees from Puerto Rico as well as San Jose, Calif., while retaining some R&D operations at the latter location, Freed said.
Maquet is part of the Swedish medical technology group Getinge AB (pronounced Getting-A, Freed said), which posted $2.8 billion in revenue last year. In the $1.7 billion U.S. market, it has products in the cardiopulmonary, cardiac surgery, vascular interventions and cardiac assistance segments, according to a company fact sheet.
E-mail Shankar P. at [email protected]=