Lee, Massachusetts - Boyd Technologies announced that it executed a strategic partnership in its single-use assembly business with plans to invest more than $5 million to expand its cleanroom manufacturing footprint, purchase new capital equipment, and hire employees. The planned investment is already underway; the first phase of new equipment arrived in the third quarter of 2021 and will be followed by the second phase of equipment later in 2022.
Boyd provides growth services to biomedical companies that are commercializing breakthrough technologies. By leveraging these services, companies can accelerate their product design, development, and manufacturing initiatives and launch new products safely and effectively. In this case, Boyd will produce single-use bags and tube set assemblies used in biotechnology applications. These products are used in bioprocessing for drugs and therapies and medical device applications such as blood, IV, and transfusion bags.
The biotechnology market grew steadily before the COVID-19 pandemic and is now experiencing a substantial increase in demand due to the global need for vaccines and other therapies. The partnership will allow Boyd Technologies to accelerate its expansion into this market and support significant growth for the Company.
“Our partnership in single-use assemblies is one of the most important partnerships in the Company’s 40-year history. We’re excited to accelerate our investments in this area of our business as we continue to focus on supporting our partners by delivering breakthrough technologies to the Healthcare market.”
STEPHEN BOYD
Chief Executive Officer, Boyd Technologies
Preparation at Boyd’s Lee, Massachusetts facility is underway, expanding its footprint of cleanroom space and making way for new equipment. While the Company currently operates in this market, this investment represents a significant expansion of capacity and capabilities. As a result, the Company is anticipating an immediate scale-up of these investments in 2022.