medical innovation & device manufacturing · 2020. 6. 9. · medical innovation & device...
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GREATER MEMPHIS REGIONIndustry Snapshot
MEDICAL INNOVATION & DEVICE MANUFACTURING
Unmatched logistics
capabilities coupled with
a welcoming business
climate and a strong
industry cluster make the
Greater Memphis region a
natural location for a wide
range of medical device
companies and medical
device OEMs.
Major Memphis manu-
facturers in Memphis include
Medtronic, Smith & Nephew,
Microport, Wright Medical
Group and Olympus.
The region’s intellectual
capital in the device sector
frequently produces
spinoffs and startups,
supported by one of the
nation’s Top 25 accelerator
programs ZeroTo510.
FACT: THE FEDEX SUPERHUB MAKES IT POSSIBLE FOR MEDICAL DEVICES SHIPPED BY MIDNIGHT TO ARRIVE IN AN O.R. ANYWHERE IN
THE COUNTRY AS EARLY AS THE FOLLOWING MORNING.
QUOTE: “…WITH THE TRANSPORTATION NETWORK AVAILABLE HERE – INCLUDING
FEDEX – WE CAN GET OUR PRODUCT PRETTY MUCH OVERNIGHT TO ANYONE IN THE WORLD.
THAT’S A HUGE ADVANTAGE FOR US.” - BARRY REGAN,
SENIOR VICE PRESIDENT OF OPERATIONS WRIGHT MEDICAL
FACT: EMPLOYMENT IN THE MEDICAL DEVICE INDUSTRY IN MEMPHIS HAS GROWN 50 PERCENT SINCE 1999 – MORE THAN
FOUR TIMES THE NATIONAL RATE OF GROWTH.
KEY ASSETS
• 47 Medical Device companies with operations
in Shelby County.
• More than 16,800 employees
• $2.7 billion economic impact to Memphis/Shelby
County. (Source: Greater Memphis Medical Device Council Data)
• 4x the national average industry growth in
Memphis MSA since 1999.
• 2nd hightest concentration of orthopedic medical
device firms in the US.
• LQ 3.7 (Memphis MSA) LQ 1.5 (Tennessee)
MEDICAL DEVICE COMPANIES WITH A PRESENCE IN MEMPHIS
FACT: SINCE 2013, THE NUMBER
OF GRADUATES IN BIOLOGICAL AND
BIOMEDICAL SCIENCES HAS
GROWN BY 31 PERCENT.
SOURCE: NATIONAL COLLEGE FOR EDUCATIONAL
STATISTICS AND ESRI COMMUNITY ANALYST
TRAINING PROGRAM SPOTLIGHT
A tuition-free skill development and training program, provides industry recognized credentials and
work-based learning opportunities including apprenticeships, on-the-job training and internships to
prepare participants for careers in the medical device industry. The MOVE-HIRE Program was established
to help increase the number of skills-trained workers to support the growing medical device industry in
the region.