5. IndianaPrevious ranking: 5
Medical device industry employment (2019): 20,046
Medical device industry establishments (2019): 276
Major medical device company headquarters (2019): 1
Medical device patents (2019): 143
Medical device VC investments (2019): $1.7M
Medical device VC deals (2019): 2
Best States for Business ranking (2019): 12
Warsaw, Ind. is nicknamed the “Orthopedic Capital of the World.” The orthopedic medical device manufacturing industry in Warsaw has roots going back to 1895, when Revra DePuy started the DePuy Manufacturing Co. to make fiber splints. The business today is Johnson & Johnson’s DePuy Synthes Co., which employs 18,000 people across 60 countries and generates $10 billion in annual sales. DePuy Synthes is still a presence in Warsaw; its joint reconstruction business is based there.
During the 20th century, DePuy competitors Zimmer and Biomet started in Warsaw. The two in 2015 merged into Zimmer Biomet, a $7.8 billion-a-year company.
In addition to the ortho industry giants, the industry in Warsaw supports a host of suppliers. Wilmington, Mass.–based contract manufacturer Tecomet, for example, has a location in the city to serve the orthopedic device industry.
Bloomington is the home of the privately held Cook Group, a maker of minimally invasive medical devices.
Notable medical device industry suppliers
Greenlight Guru (Indianapolis) has quality management software designed specifically for the medical device industry.