February 29, 2008
Medical developer opens expanded R&D center at Purdue Research Park
WEST LAFAYETTE, Ind. -
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MED Institute, the product development subsidiary of Bloomington, Ind.-based Cook Medical, made the announcement from its newly renovated 92,000-square-foot development center located in the former Great Lakes Corp. headquarters.
"The Cook family of companies continue to be a catalyst for Indiana's growing life sciences sector," Skillman said. "Their continued investment in our state reflects a confidence in our economy and our work force."
Established as a resource for Cook Group companies to identify and develop new medical product concepts, MED Institute employs about 175 professionals in West Lafayette who work with Cook companies around the world to design and implement clinical trials, conduct product development testing, and secure patents and other intellectual property rights in the United States and around the world
Prior to relocating to the expanded facility in the Purdue Research Park, the company operated its development facility in a 28,000-square-foot facility in another area of the 725-acre park in West Lafayette.
"After operating for more than a decade in a much smaller facility, MED Institute now has the space and technical resources needed to dramatically expand its role of helping bring the most advanced medical technology in the world to Cook Medical products around the world," said Neal Fearnot, president of MED Institute. "We are thrilled with our new facility and especially pleased that we were able to work with city officials to get the street where we're located officially renamed Geddes Way to honor Dr. Leslie Geddes, whose work in biomedical engineering at Purdue has inspired everyone within the Cook organization."
The Indiana Economic Development Corporation offered Med Institute up to $1.885 million in performance-based tax credits in 2007 based on the company's job creation plans.
The announcement of MED Institute's expansion comes less than a month after sister company Cook Pharmica announced its plans to add new filling and finishing lines to its south-central Indiana campus, widening its capabilities and creating more than 200 new jobs.
The announcement also comes less than a week after global technology giant EDS (NYSE:EDS) announced its plans to locate a new national software solution center in the Purdue Research Park. That announcement is expected to create more than 200 software engineer and business analyst positions by 2010.
"MED Institute is a vital member of the 147 companies in the Purdue Research Park," said Joseph B. Hornett, senior vice president, treasurer and chief operating officer of the Purdue Research Foundation, which manages the research park. "The growth of MED Institute, Cook Biotech and the other Cook Medical companies exemplifies the important contributions that the group makes in advancing medical technology around the world."
About MED Institute
MED Institute was established as a resource for Cook Group companies to identify and develop new medical product concepts. This includes new product identification, prototype development, non-clinical Good Laboratory Practice testing, clinical trial management and data analysis, education for the medical community, and preparation of regulatory submissions. MED Institute employs a staff of research, medical, engineering, and technical personnel or professionals.
About Purdue Research Park
Purdue Research Park (https://www.purdueresearchpark.com) encompasses 725 acres in West Lafayette, Ind., and is home to the largest university-affiliated business incubator complex in the nation. Within the park, more than 140 businesses, of which more than 90 are high-tech, employ more than 2,900 people. The Association of University Research Parks recognized Purdue Research Park for Excellence in Technology Transfer in 2005, and the park received the organization's Research/Science Park Company of the Year Award of Excellence in 2004.
To the Purdue Research Park, https://www.purdueresearchpark.com
PHOTO CAPTION:
Leslie and LaNelle Geddes, from left, tour MED Institute's 92,000-square-foot expanded research and development center with Lt. Gov. Becky Skillman. The facility, located in the Purdue Research Park, was dedicated on Friday (Feb. 29). MED Institute is the product development subsidiary of Bloomington, Ind.-based Cook Medical. The research and development center will employ more than 250 people by 2011. (Purdue News Service photo/Dave Umberger)