PORTSMOUTH – A medical technology company with 150 local employees will be closing its facility at Pease International Tradeport.
The Transformative Solutions business of Medtronic is being restructured to strengthen its financial position, according to spokesperson Brett Cromwell. Beginning on April 27, staff will report to Medtronic’s Enabling Technologies in Louisville, Colo.
“We’re still developing the transitional plan, but much of that transition will happen between the next six to 12 months,” Cromwell said Monday.
Cromwell said there were no immediate changes made to personnel as part of the decision, but many of the jobs in Portsmouth will be moved to Louisville.
“At this time, it’s too early to know exactly how many positions will be impacted,” Cromwell said in a statement. “Portsmouth employees will have the opportunity to apply for those positions, as well as any other open positions at Medtronic.”
Cromwell said any employees impacted by the transition will be offered severance packages and outplacement services.
Medtronic works with surgical tools, including a PlasmaBlade that makes it easier for doctors to save the nipples of women who undergo mastectomies after being diagnosed with breast cancer.
The company also sells Aquamantys bipolar sealers, which combines radiofrequency energy and saline to provide sealing of soft tissue and bone without the smoke or char found in other methods, as well as RadiaLux lighted retractors for breast and open abdominal procedures, according to Cromwell.
Internationally, Medtronic has more than 86,000 employees and a total revenue of $30 billion. Founded in 1949, it is the world’s biggest medical technology company, according to www.medtronic.com.
In New Hampshire, Medtronic purchased Salient Surgical Technologies in 2011 as part of a transaction valued at $525 million. Salient Surgical Technologies was originally launched as a Dover-based startup named TissueLink Medical by Jackie Eastwood in 1999.
Medtronic is headquartered in Dublin, Ireland. It has operational headquarters in Minneapolis, Minn., Cromwell said.