Dexcom is building a new manufacturing facility in the greater Phoenix, AZ, area where it will house its continuous glucose monitoring (CGM) business.
The 180,000-square-foot structure will be home to Dexcom's global manufacturing operations and will create more than 500 jobs over several years. Initial operations are expected to start in the second quarter of 2017, the announcement said.
Kevin Sayer, president and CEO of Dexcom ($DXCM), explained that company growth and growing demand for continuous glucose monitoring tech were motivators to expand manufacturing. He also noted that an available workforce along with proximity to the San Diego headquarters and key suppliers were key factors in the location choice.
Dexcom's CGM tech has been evolving and adapting quite a bit throughout the past year. In August 2015, the FDA approved Dexcom's G5. The G5 CGM system is a small, Band-Aid sized adhesive sensor and transmitter combo, which sends data directly to an app on a smart device. This eliminates the hassle of wearing a separate transmitter that works only with a dedicated handheld receiver. Then in March this year, Dexcom announced the G5's integration with Apple Watch.
It also has plans for the future. Along with partner Verily--Alphabet's ($GOOG) med tech arm--Dexcom aims to release a mini glucose monitor by 2018, with a second generation version following by 2021.
- here's the announcement