NEWPORT NEWS, Va., March 6, 2018 – ivWatch, the only provider of medical devices for the early detection of intravenous (IV) infiltrations and extravasations, announced today that it is moving forward with plans to relocate from their Hampton and Williamsburg facilities to anchor Newport News Tech Center Research Park‘s Building One. The move will increase operational efficiency by combining all departments, including manufacturing and research and development, under one roof.
“We are experiencing continued growth year after year in staff size, sales and manufacturing operations,” said Gary Warren, president and CEO of ivWatch. “The decision to move to the Research Park supports the execution of our business and recruiting plans. Within the next four years, we plan to add 150 new employees to support our international market-entry and expanding our sales activity in the U.S. through two leading healthcare group purchasing organization(GPO) contracts.”
The company has made substantial progress in developing, designing and commercializing a pioneering non-invasive biosensor technology. Terumo Corporation, one of the world’s leading medical device manufacturers and distributors, was recently named the exclusive distributor for ivWatch in Japan. Additionally, through “Breakthrough” and “Innovative” technology group purchasing contract awards from Premier and Vizient, the ivWatch Model 400 is more accessible to thousands of hospitals and healthcare systems across the U.S.
The Newport News Tech Center will be home to more than one million square feet of space across 11 planned buildings, punctuated by restaurants, shops, fitness clubs, biking trails and gathering spots. With a highly-skilled workforce, the addition of ivWatch to the Research Park will help foster and fuel the technology sector in the Hampton Roads area.
The new headquarter building is part of ivWatch’s investment in supporting their growing operations and customer base as well as the community.
“The best companies are those with access to research, influence and partners with resources you don’t have yet. As a young company in the medical device market, it’s essential to develop and pursue those types of resources to build a company in this tightly regulated industry,” said Warren. “We are proud of the success we’ve achieved, and this workplace will allow us to provide access to others by sharing our journey of how we turned research and data into a solution-based application used in leading hospitals across the country.”
Master building plans include prominent ivWatch signage on the exterior of the building, with ivWatch occupying more than 25,500 sq. ft. including manufacturing, warehouse space on the first floor, and state-of-the-art office space on the first and third floors. The company will keep their open floor plan concept which they’ve found facilitates interdepartmental collaboration. The building will include space for other tenants, co-working spaces and a business accelerator program.
The construction of the building is underway, with a target move-in date of late 2018.
ivWatch, LLC is the leading medical device manufacturer and biosensor technology company focused on improving patient safety and the effectiveness of intravenous therapy. Our dedicated and passionate team is focused on our company vision of eliminating patient harm caused by infiltrations and extravasations. Through our innovative monitored IV solutions, we help minimize the risks associated with adverse IV events. Follow us on Twitter @ivWatch or Facebook @ivWatchLLC. https://www.ivwatch.com/
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