Modular Devices expanding in Indy
Indianapolis-based Modular Devices is growing its footprint in central Indiana. The company, which manufactures mobile medical units and cleanrooms, is moving to a 107,000-square-foot facility on the city’s southeast side, though financial details are not being disclosed.
Modular Devices says the facility at 1515 Brookville Crossing Way will allow the company to increase its capacity to manufacture, maintain and store its products, which include mobile medical imaging labs, cath labs, imaging equipment, and mobile cleanrooms that are provided to healthcare facilities nationwide.
In December, Modular Devices announced plans to add more than 50 jobs in Indy by the end of 2026. The company said those plans are still in place as it moves to the new location.
“We are excited to be able to grow our company here in Indianapolis, grow the biotechnology industry in Indiana and to offer high-tech jobs to Indiana residents and graduates of Indiana colleges and universities,” Chief Financial Officer Sarah Robison said in written remarks when the hiring effort was announced.
The company expects the move to the new space will be complete by the end of April. With its continued growth, Modular Devices is anticipating doubling its year-over-year revenue in 2023.
The move follows two acquisitions that have helped fuel growth for Modular Devices. The company acquired Tennessee-based mobile cath lab company Cardiac Services Mobile Inc. last May, as well as Interim Diagnostic Imaging, a mobile imaging company headquartered in Minnesota, last month.
Financial terms of the acquisitions were not disclosed.