Abiomed to expand headquarters and hire 100 workers
Abiomed is planning a massive expansion thanks to recent FDA approvals, adding employees and space to increase its manufacturing.
Abiomed (Nasdaq: ABMD) announced Tuesday evening that it would add another 100 employees in the next two years to its 600-employee base. To accommodate the growth, the company will lease an additional 85,000 square feet of space in a building next to its Danvers headquarters, bringing its total square footage to 160,000 square feet.
“What (the recent FDA approval) gives us is a license to go out and be the standard of care,” said Michael Minogue, the chairman, president and CEO of Abiomed, in an interview. “We were planning for this success, so that means we have to expand our manufacturing capacity, to build the quantities of product necessary.”
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The growth comes three months after the Food and Drug Administration approved Abiomed’s heart pump device, used during surgeries, for a bigger population of patients. While the Impella 2.5 heart pump has been cleared for patients since 2011 as a temporary surgical support, it can now be marketed for use for angioplasty, growing the patient market by 25,000-50,000 patients in the U.S, according to Minogue, who says it’s “the only safe and effective device for this kind of procedure.”