Terumo Corp., a Japanese medical device maker, will move its MicroVention Inc. unit from Aliso Viejo to a Tustin facility that’s being vacated by Terumo Cardiovascular Systems.
MicroVention makes catheter-based medical devices to treat cerebral aneurysms, or a ballooning of blood vessels in the brain.
Terumo Cardiovascular is moving its research and development and manufacturing from Tustin to Ann Arbor, Mich., over a period of nine months. Terumo Cardiovascular is planning to bring 65 jobs and $3.5 million in investment to its Ann Arbor operation under an incentive program by the Michigan Economic Development Corp.
MicroVention, which has some 130 local workers, was acquired by Terumo in 2006. MicroVention had raised some $53 million in venture capital since its inception in 1997.
As for Terumo Cardiovascular, it is moving manufacturing to gain operational efficiencies, said Mark Sutter, the company’s chief executive, in a release.
The device maker is adding 14,000 square feet and a chemistry lab to its Ann Arbor operations. Its products include heart-lung machines and intraoperative monitoring products used during cardiac surgery.
