Insulet Corporation has celebrated the opening of its newest manufacturing facility, based in Malaysia, with a ceremony, a press release reported.
“We are taking an important step to further diversify globally and ensure our valued customers continue to have uninterrupted access to our life-changing products,” Insulet executive vice president and COO, Chuck Alpuche, said in the release. “This new Malaysian factory will help support our fast-paced growth, robust innovation pipeline and global expansion.”
The new establishment, spanning 400,000 square feet of manufacturing space, will focus on the production of the Omnipod Insulin Management System, continuing the use of the Omnipod brand of products, which is considered a specialty of Insulet’s.
According to a recent press release, the total investment cost of the venture is expected to sum up to approximately $200 million over the course of the next five years.
The tubeless insulin pump technology provider will hire 500 employees to run the facility, which is expected to begin operating by the middle of 2024.
At the ceremony, Insulet’s representatives will discuss their plans to source environmentally responsible and resource-efficient materials for the launch.
The team will be joined by the Malaysian Investment Development Authority, the Ministry of Internal Trade and Industry, Iskandar Regional Development Authority, Iskandar Puteri City Council and Malaysia-based U.S. Embassy members.
“We are pleased to welcome Insulet to Malaysia as the medical device company expands their manufacturing capabilities,” Johor State Investment, Trade and Consumer Affairs Committee chairman, Lee Ting Han, said in the release. “This project validates Johor’s attractiveness as a top international investment destination. We believe this new facility will play an important role in the development of the State, driving the economy and creating jobs. The Johor State Government continues to welcome high-impact businesses from around the world to ensure Johor remains the preferred location for quality investments.”