Instrumentation Laboratory Awarded Massachusetts Life Sciences Center Tax Incentive - Leading Diagnostics Manufacturer Focused on Continued Growth in the Commonwealth -
BEDFORD, Mass., May 8, 2013 /PRNewswire/ -- Instrumentation Laboratory (IL) today announced that it has been awarded a $980,000 tax incentive by the Massachusetts Life Sciences Center (MLSC) as part of the Life Sciences Tax Incentive Program. The Program is designed to foster job growth in life sciences within the Commonwealth.
Founded and based in Massachusetts since 1959, IL is dedicated to the development, manufacturing and commercialization of innovative Critical Care and Hemostasis Diagnostic products and services. Every day, over one million samples of blood are tested on IL systems around the world. At its headquarters and technology center in Bedford, MA, IL employs more than 200 highly skilled scientists and engineers, focused on the development of state-of-the-art systems for clinical laboratories worldwide. IL will apply the MLSC award to expand its employee base, ultimately enhancing IL's robust product portfolio, spanning from analyzers and reagents to information management solutions.
"We are honored to receive this MLSC award which will help us continue investing in our organization and in our products. IL has grown to become a worldwide leader in both the Hemostasis and Critical Care diagnostics markets over the past five decades," said Ramon Benet, CEO at IL. "Our mission is to enhance the quality of patient care through our products, and like the healthcare providers we serve, we are passionate about this goal. We are committed to enriching our highly skilled employee base as we continuously improve our current product line and commercialize our rich diagnostic pipeline in the upcoming years."
IL has a series of noteworthy industry "firsts" including the first direct-reading pH/blood gas analyzer; the invention of CO-Oximetry; the first information management system for blood gas; the first standardized Critical Care testing platform for all hospital locations; the first and only automated, active total quality management system; and the first fully automated chemiluminescent analyzer dedicated to specialty assays in Hemostasis testing. Innovative products in today's portfolio include the ACL TOP® Family of Hemostasis Testing Systems and the GEM® Premier™ Family of Critical Care Systems featuring Intelligent Quality Management (iQM®).
The Board of Directors for MLSC awarded $23.85 million in tax incentives to 25 life sciences companies. The recipient companies have committed to creating more than 1,000 new life science-related jobs in the Commonwealth in 2013. The Life Sciences Tax Incentive Program was established in 2008 as part of Massachusetts' 10-year, $1 billion Life Sciences Act. The primary goal of the program is to incentivize life sciences companies, large and small, to create new sustained jobs in Massachusetts.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center is an agency of the Commonwealth of Massachusetts. The Center's mission is to create jobs in the life sciences and support vital scientific research aimed at improving the human condition. This includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties among sectors of the Massachusetts Life Sciences community. (www.masslifesciences.com)
About Instrumentation Laboratory
Instrumentation Laboratory ( www.ilus.com ), founded in 1959, is a worldwide developer, manufacturer and distributor of in vitro diagnostic instruments, related reagents and controls for use primarily in hospitals and independent clinical laboratories. The company's product lines include Critical Care systems, Hemostasis systems and Information Management systems. IL's GEM® product offerings, part of the Critical Care line, include the GEM Premier™ 4000 analyzer with Intelligent Quality Management (iQM®), GEM Premier 3500, GEMweb® Plus Custom Connectivity, and complementary products GEM PCL Plus, a portable coagulation analyzer, GEM OPL CO-Oximeter, and GEMdraw arterial blood samplers. IL's Hemostasis portfolio includes the ACL TOP® Family of Hemostasis Testing Systems, fully automated, high-productivity analyzers, including the ACL TOP 700, ACL TOP 700 LAS, ACL TOP 700 CTS, ACL TOP 500 CTS and ACL TOP 300 CTS. IL also offers the ACL AcuStar®, ACL ELITE®, other Hemostasis analyzers and the HemosIL® line of reagents. IL is based in Bedford, Massachusetts.
The Instrumentation Laboratory logo, GEM, iQM, HemosIL, ACL, ACL TOP, ACL ELITE, ACL AcuStar and Premier are trademarks of Instrumentation Laboratory Company and/or one of its subsidiaries or parent companies, and may be registered in the United States Patent and Trademark Office and in other jurisdictions. All other product names, company names, marks, logos, and symbols are trademarks of their respective owners.
SOURCE Instrumentation Laboratory