Medtronic, a medical technology company with 150 employees in NH, confirmed this week that the company will be closing its Transformative Solutions business at Pease Tradeport in Portsmouth within the next 12 months.
“[The] changes are being made to help focus the business and strengthen its financial position. The business is being restructured and will report into Medtronic’s Enabling Technologies business in Louisville, Colorado, beginning April 27, 2019. As a result of the transition, the Portsmouth facility will eventually be closed, most likely within the next 12 months,” says Brett Cromwell, a communications representative for the company, in a statement.
Cromwell says the exact details as to when the Portsmouth facility will close have yet to be determined, but definitive plans will be finalized soon. “There were no immediate changes as part of the announcement. At this time, it’s too early to know exactly how many positions will be impacted, as the two businesses are working through a transition plan. Part of that plan will include moving many of the roles in Portsmouth to Louisville. Portsmouth employees will have the opportunity to apply for those positions, as well as any other open positions at Medtronic. Any employees impacted by this transition will be offered a severance package and outplacement services,” Cromwell says.
The NH operation was launched as a startup by Jackie Eastwood in 1999 as TissueLink Medical and eventually changed its name to Salient Surgical Technologies. The company was acquired by Medtronic in 2011 in a transaction valued at $525 million. In 2017, the NH operations had boasted 15 percent growth year-over-year for the past 15 years. In 2017, Medtronic Transformative Solutions launched four new products, including two designed to assist breast cancer patients.
Until 2018, the NH operations had local leadership. In 2018, Suzanne Foster, who served as vice president and general manager, stepped down and was replaced by Nnamdi Njoku, who was based out-of-state.
Medtronic’s NH operations has won may accolades, including being named the Business of the Year in the Manufacturing/Technology category in 2018 by Business NH Magazine and was also inducted into the magazine’s Hall of Fame for the Best Companies to Work For competition.
Medtronic has supported several NH nonprofits over the years, specifically through its annual Project 6 campaign, held during the month of June. In 2017, more than 70 volunteers participated in projects to assist CrossRoads House, the Rachel Carson Wildlife Refuge, the Veteran Resort Chapel, NH Special Olympics, and the Seacoast Food Pantry.
Other local organizations Medtronic has worked with include My Breast Cancer Support; Wentworth Douglass Hospital, as a premier sponsor of the Seacoast Cancer 5K fundraiser; and in 2016 the Medtronic Foundation awarded a $50,000 Health Access Grant to Families First.