Insulet debuted a new manufacturing facility in Malaysia that anchors a $200 million investment by the Massachusetts-based diabetes devicemaker.
Located in Johor Bahru, Malaysia, the 400,000-square-foot plant is twice the size of the company’s production plant in Acton, Massachusetts, and currently employs more than 350 workers.
Insulet expects to eventually hire more than 1,000 employees at the site in the next few years, it said in an August 14 press release.
The facility was designed with several environmental sustainability elements, including more than 5,700 solar panels and an underground rainwater harvesting system.
“Insulet’s remarkable growth is driven by our market-leading Omnipod 5, the first and only tubeless automated insulin delivery system in the U.S.,” said Jim Hollingshead, Insulet’s president and chief executive, said in the release. “Our new state-of-the-art manufacturing facility in Malaysia positions us strategically to stay ahead of the huge demand for Omnipod, ensuring our customers have uninterrupted access to our products from this thriving region with great talent.”
In February, Insulet reported year-over-year sales growth of 30%, with earnings reaching $1.7 billion in 2023 versus $1.3 billion during the prior year.
The growth in 2023 was mostly attributed to the company's Omnipod 5 automated insulin delivery (AID) system. Omnipod 5 was responsible for $1 billion of Insulet’s 2023 revenues as it became the most prescribed AID system in the U.S. over the course of the year, the company said.