News Release: INDIANAPOLIS (Dec. 3, 2012) - US HIFU, LLC, a healthcare firm specializing in medical procedures, announced plans today to expand its operations here, creating up to 27 high-wage jobs by 2015.
"Our positive momentum continues full steam ahead. Indiana is a premier destination for life sciences companies, and US HIFU's decision to create more quality career opportunities for Hoosiers is hard proof of this," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
The Charlotte, N.C.-based company designs and produces minimally invasive high intensity focused ultrasound (HIFU) technologies for the treatment of cancer. It has already begun hiring additional highly-skilled technical staff to support manufacturing, quality assurance and regulatory requirements at its facility located at 4000 Pendleton Way on the northeast side of Indianapolis. The highly-skilled positions will earn an average wage of $36 an hour. Interested candidates can apply at www.ushifu.com.
"As we continue to hit development and regulatory milestones that bring us closer to the approval and commercialization of HIFU technologies for the treatment of prostate cancer in the United States, we must continually add new talent and expertise to maintain our technology leadership in the HIFU industry," said Mike Klein, chief executive officer of US HIFU. "We are pleased to work with the IEDC to maintain that growth here in Indianapolis and expect to add more than 25 new engineers, researchers and support personnel over the next four years."
Founded in 2004, the privately-held company manufactures the Sonablate® 500 system, which uses HIFU technology to deliver minimally invasive treatments. The HIFU technology is being studied for the treatment of prostate cancer in clinical trials in the United States and is also being studied around the world to treat a wide variety of cancers and soft tissue diseases. The company also provides medical devices internationally through its subsidiary company International HIFU.
The Indiana Economic Development Corporation offered US HIFU, LLC up to $350,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project with additional incentives at the request of Develop Indy.
"The expansion of US HIFU's operations here is yet another boost to our reputable life science industry and proves that our commitment to the advancement of local business is having an impact on Central Indiana," said Indianapolis Mayor Greg Ballard. "Both our low cost of doing business and our skilled workforce contribute to making Indianapolis the ideal place for companies to grow. We congratulate US HIFU on its success."
US HIFU's announced decision to expand its medical device development operations comes just a couple weeks after scientific software provider, Indigo Biosystems, also made plans to grow its Central Indiana operations. Indigo plans to invest $1.4 million to renovate a new office on the north side of Indianapolis, creating up to 63 new high-wage jobs by 2015.
About US HIFU
US HIFU, LLC (US HIFU), a privately held, venture-backed healthcare company, is a world leader in minimally invasive high intensity focused ultrasound (HIFU) technologies. US HIFU is committed to treating prostate cancer using HIFU with the Sonablate® 500, a minimally invasive, outpatient procedure pioneered to control cancer and significantly improve patients' quality of life. US HIFU is engaged in ongoing research for technological advancements for the Sonablate system and/or other ultrasound applications. The Sonablate is approved for investigational use within the U.S. and is being studied in a clinical trial as a possible treatment for recurrent prostate cancer in patients treated previously with radiation therapy. The FDA has made no decision as to the safety or efficacy of the Sonablate for the treatment of prostate cancer. Currently, the device is available for the treatment of prostate cancer outside the U.S. in more than 30 countries. US HIFU was founded in 2004 and is headquartered in Charlotte, N.C. Additional information may be found at www.ushifu.com.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.