Radiopharma Company Growing in South Bend
SOUTH BEND - A manufacturer of medical radioactive isotopes is moving forward with plans to relocate and expand in South Bend. Spectron mrc LLC, a nuclear pharmacy that currently has nine employees, is planning to add 39 jobs over the next five years at a new facility in Ignition Park.
The company is looking to invest nearly $2.8 million into production of the technetium-99m isotope. Spectron is seeking tax abatement from the South Bend Common Council, which is expected to total close to $110,000 during the five-year period. Plans call for the new jobs to add more than $2 million in annual payroll.
Spectron uses cyclotron technology to create radioactive isotopes that emit positrons, which are used for nuclear cardiology, bone imaging and diagnostic studies on organs. The company says demand for technetium-99m is expected to be in "more severe" demand in the coming years. Spectron says it serves clients within a 2-to-3 hour delivery radius. In a filing with the city, the company says several hospitals have already signed long-term supplier agreements in anticipation of the expansion.
You can connect to the company's tax abatement details from the city by clicking here.