Medical device maker expanding in Morrisville
11/07/2013 12:14 PM
11/07/2013 12:15 PM
Medical device maker Teleflex is relocating its Triangle operations to Morrisville and expects to create 75 well-paying jobs in the next three years.
Teleflex, a publicly traded company based in Limerick, Pa., also plans to invest more than $20 million in its new Morrisville facility. Teleflex produces medical devices used by hospitals and health care providers around the world.
The company’s move was announced Thursday by state officials. Teleflex is eligible to receive up to $200,000 in state incentives if it meets its job and investment targets, and also is in line for matching incentives at the local level.
Teleflex already employs 442 workers at locations in Durham and Research Triangle Park.
“It made sense to try and get our employees under one roof,” said Teleflex spokesman Jake Elguicze.
The state Commerce Department reported that the company’s new hires, which will include many senior positions, will earn an average salary of $73,000 a year – well above the Wake County average of $48,042.
The company also considered Houston for its expansion, according to the Commerce Department.
Teleflex posted revenue of $413.8 million, up 12 percent, in the third quarter. Net income more than doubled to $46.6 million.
Last month, Teleflex agreed to acquire Vidacare, a medical device maker based in Texas, for $262.5 million.
Staff writer David Ranii
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