February 12, 2015
Terumo Corporation (Headquarters: Shibuya-ku, Tokyo, Japan. President: Yutaro Shintaku) announces it will establish a Research and Development center in Southern California, US to enhance its R&D capability of the coronary and peripheral interventional therapeutic area. Terumo will invest approximately 10 billion JPY to the center and is intending to start the operation in FY2017.
MicroVention, Inc., Terumo's subsidiary in Southern California, has been the innovation center for Terumo, consistently developing new products in a timely manner. The region is one of the leading medtech business clusters in the US and offers access to a pool of medtech experts.
Terumo has decided to build the new R&D center for the development of cutting-edge interventional systems products by leveraging MicroVention's capability and networking resources in a technology area.This initiative will allow Terumo to be firmly poised for accelerating interventional business growth in the US, the largest medtech market. The facility will also drive forward neurovascular device development lead by MicroVention.
In addition, Terumo has been actively investing in Silicon Valley: investing in a venture capital fund since 2013, establishing its own venture subsidiary in 2014, and this year, setting up its own R&D stronghold. The venture capital fund searches for both cutting-edge technologies and new innovative ideas. The venture subsidiary is responsible for incubating innovation while the stronghold pursues the early-stage product development.
Terumo will capitalize on these R&D resources in California which will further accelerate leading-edge medical innovation.
(Notice) Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts on projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The market share information in this press release is partly derived from our own independent research.