INDIANAPOLIS (May 7, 2008) - Governor Mitch Daniels and Indianapolis Mayor Greg Ballard joined executives from DCL Medical Laboratories today to announce the company's plans to expand its headquarters and clinical laboratory here, creating 125 new life sciences jobs.
The provider of clinical laboratory testing services to the diagnostic and pharmaceutical markets will invest more than $4.7 million and add more than 20,000 square feet of commercial laboratory space to its laboratory and headquarters facility on the city's northwest side.
"Indiana is becoming a leader in the Midwest in the life sciences, particularly in the service sector that supports this growing industry. Companies like DCL are creating new jobs and delivering results in an industry where accuracy and speed are of the utmost importance," said Daniels.
The Indianapolis-headquartered company, which specializes in providing women's health clinical laboratory testing services, currently employs more 150 in Indianapolis and has already begun hiring of additional pathologists, clinical laboratory professionals, information technology professionals and service personnel as part of its expansion.
"DCL has a distinguished history in providing exceptional cytology services to the medical community, and this laboratory expansion in molecular and clinical diagnostics will greatly enhance the company's opportunity to serve the healthcare needs throughout Indiana," said Michael Hanbury, president and chief executive officer of DCL Medical Laboratories. "The increased space and technical capabilities will enable DCL to leverage its collective experience in cytopathology, clinical trials and product development, combined with an exceptional specimen library, to facilitate commercialization of emerging diagnostic discoveries."
Founded in 1984, DCL has grown from a diagnostic cytology lab to a full-service regional reference laboratory with operations in Indianapolis, St. Louis and Louisville. Since its inception, the company has pioneered fine needle biopsy alternatives for conventional biopsy procedures, and was the first to introduce many leading advances in clinical testing and medical educational services focused in women's health.
"DCL Medical Laboratories is the type of company that makes Indianapolis thrive," said Ballard. "Founded by Hoosier researchers and growing impressively in our community, this dynamic life sciences company is just want we want to see succeed in our community."
The Indiana Economic Development Corporation offered DCL Medical Laboratories up to $750,000 in performance-based tax credits and up to $116,000 in training grants based on the company's job creation plans. The City of Indianapolis will consider providing property tax abatement at the request of Indianapolis Economic Development Inc.
The announcement of DCL's expansion in Indianapolis comes less than two months after the company announced a strategic partnership with molecular diagnostics products manufacturer Third Wave Technologies Inc. (NASDAQ: TWTI). As part of the relationship, Third Wave will maintain a research and development laboratory at DCL's Indianapolis facility and undertake joint product research and development.
DCL's continued growth in Indiana builds on Central Indiana's $13.6 billion global life sciences sector. The Hoosier state ranks second in the nation in the number of jobs created to support the medical technology industry, according to a December 2007 story by medical device and diagnostics trade association Advanced Medical Technology Association.
About DCL Medical Laboratories
DCL Medical Laboratories, founded in 1984, has expanded from a fine needle biopsy clinic and cytology laboratory to a full-service regional laboratory with operations across the Midwest including specialty testing in molecular diagnostics. DCL also provides anatomic pathology services in global clinical trials for both pharmaceutical and medical device companies in partnership with the world's largest central laboratories and clinical research organizations. DCL is committed to being a preferred medical laboratory partner providing nationally recognized diagnostic services in women's health. From its founding, DCL has maintained a personal approach to delivering innovative and consultative pathology services that empower clients and improve lives. DCL is a private company with principal equity holdings by Thompson Street Capital Partners in St. Louis. For more information about DCL Medical Laboratories, visit www.dcla.com.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since Daniels created the IEDC, the state has posted three consecutive years of record-breaking job creation. For more information about IEDC, visit http://www.iedc.in.gov/.
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Media Contacts:
Christy Scholle (DCL) - 317.874.1274
Mitch Frazier (IEDC) - 317.232.8873 or MFrazier@iedc.in.gov
Marcus Barlow (Indianapolis) - 317.327.3713
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