Instrumentation Laboratory Awarded Massachusetts Life Sciences Center Tax Incentive
-- Leading Diagnostic Manufacturer Creates New Jobs in the Commonwealth --
BEDFORD, Mass., Dec. 29, 2020 /PRNewswire/ -- Instrumentation Laboratory (IL), a Werfen Company, today announced their $374,860 Tax Incentive Award from the Massachusetts Life Sciences Center (MLSC), as part of the Life Sciences Tax Incentive Program. Designed to foster job growth in life sciences within the Commonwealth, the program is expected to create 1,181 jobs. This is the sixth time IL has received the highly selective MLSC Award and will apply the funding to staff expansion.
Since 2011, IL has grown their North American employee base by more than 1,200, including 310 in MA, located at the Company headquarters in Bedford and distribution center in Devens. These employees span a wide range of skill levels, including manufacturing assemblers and highly specialized scientists and engineers. Employee growth has been driven by increased investment in R&D, coupled with a significant increase in global sales during the period.
"We are honored to receive this award, which will help us develop new innovations in diagnostics for enhanced patient care," said Ramon Benet, CEO at IL. "Recruiting top talent from our community, with diverse backgrounds and educational levels, remains a corporate priority for IL and is a critical to achieving this goal."
Founded, and based in MA since 1959, IL is dedicated to developing, manufacturing and commercializing state-of-the-art Hemostasis and Acute Care Diagnostics products and services for clinical laboratories worldwide. Every day, over one million samples of blood are tested on IL systems around the world.
The Board of Directors for MLSC awarded $18.6 million in tax incentives to 31 life sciences companies. The recipient companies have committed to creating more than 1,181 new life science-related jobs in the Commonwealth in 2020. The Life Sciences Tax Incentive Program was established in 2008 as part of a 10-year, $1 billion Life Sciences Initiative. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in MA.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center is an economic development investment agency of the Commonwealth of MA. Since its creation in 2007, the MLSC has strategically deployed over $700 million in the state through a combination of grants, loans, capital infrastructure investments, tax incentives and workforce programs. These investments have created thousands of jobs, and propelled the development of new therapies, devices, and scientific advancements that are improving patient health and well-being in MA and beyond. www.masslifesciences.com
Instrumentation Laboratory (www.instrumentationlaboratory.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. Based in Bedford, MA, USA, IL operates Technology Centers there, as well as in Orangeburg, NY, USA, San Diego, CA, USA, and Munich, Germany. IL is a company of Werfen, based in Barcelona (Spain). IL Acute Care Diagnostics product offerings include the GEM® Premier™ 5000 system with Intelligent Quality Management 2 (iQM®2), GEM Premier 3500 analyzers with iQM, GEM Premier ChemSTAT, GEMweb® Plus Custom Connectivity, ROTEM® viscoelastic testing systems, Hemochron™ systems, VerifyNow™ platelet function testing system, and Avoximeter™ CO-Oximeters. The IL Hemostasis portfolio includes ACL TOP® Family 50 Series and ACL TOP Family of Hemostasis Testing Systems, fully automated, high-productivity analyzers, HemoCell™ Specialized Lab Automation and HemoHub™ Intelligent Data Manager. IL also offers the ACL AcuStar®, ACL Elite®, and other Hemostasis analyzers, along with the comprehensive HemosIL® line of reagents.
The Instrumentation Laboratory logo, GEM, Premier, GEM Premier ChemSTAT, GEMweb, iQM, ChemSTAT, HemosIL, ACL, ACL TOP, ACL Elite, ACL AcuStar, ReadiPlasTin, RecombiPlasTin, SynthASil, SynthAFax, ROTEM, Hemochron, VerifyNow and Avoximeter 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
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