Hard Times Don't Stop TerumoHard Times Don't Stop Terumo
As many companies continue to downsize in Michigan, two subsidiaries of Japan-based Terumo Corp. are expanding in a town near Ann Arbor called Scio Township.
March 30, 2009
Terumo Cardiovascular Systems and Terumo Heart Inc. have created nearly 150 new jobs in the area last year and could be moving some of its manufacturing and R&D from California, according to the Detroit Free Press. Terumo Cardiovascular's heart-lung machines are made at its Scio facility. It currently has about 38% of its market and is aiming to reach 50% by 2012, according to Terumo Cardiovascular's president and CEO Mark Sutter. Sales are also anticipated to go up 10% for its fiscal year, which ends this month.Terumo Heart was started to develop and commercialize the DuraHeart left ventricular assist system. A U.S. clinical trial involving the device was started at the University of Michigan in Ann Arbor last summer and will be expanding to other sites.
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