Wednesday, August 20, 2025 – Fajardo, Puerto Rico – Puerto Rico Governor Jenniffer González-Colón, together with the Secretary of the Department of Economic Development and Commerce (DDEC), Sebastián Negrón-Reichard, today announced two major developments as part of our administration’s commitment to strengthening Puerto Rico’s advanced medical manufacturing sector and driving local economic growth.
The first announcement was the inauguration of a new medical device manufacturing facility for Terumo Puerto Rico in Caguas. The project represents a $45 million investment and the creation of 180 new jobs. This expansion enhances the company’s global production capacity, further consolidates Puerto Rico’s position in advanced medical manufacturing, and contributes significantly to the island’s economy.
“Puerto Rico is a consolidated hub of advanced manufacturing, backed by decades of expertise and, above all, by a highly skilled workforce with deep knowledge in this sector. Today, we celebrate the expansion of companies like Terumo, which reaffirm their commitment to grow in Puerto Rico, innovate with new production lines, and strengthen their presence on the island,” said Governor González-Colón.
Terumo Puerto Rico currently employs 375 full-time workers and is projecting to add 180 more positions within five years, for a total of 555 jobs. The new facility will manufacture the ANGIO-SEAL® Vascular Closure Device, a Class II medical device used in vascular surgery procedures. Its manufacturing process is highly specialized and complex, requiring rigorous quality controls and precision technology.
“From our Island, many of the leading products used by thousands of people worldwide are manufactured. This demonstrates that our value proposition is a unique combination of expertise, talent, and a consolidated industrial ecosystem—creating new opportunities to continue strengthening innovation and competitiveness in the medical device industry,” highlighted Secretary Negrón-Reichard.
The DDEC provided Terumo with more than $6 million in incentives. In addition, last May, Terumo Puerto Rico partnered with the Municipal Alliance of Integrated Services (AMSI) to launch an apprenticeship and training program for 41 employees in advanced manufacturing techniques. The initiative, supported by $2.28 million in federal Workforce Innovation and Opportunity Act (WIOA) funds, further supports the industry’s growth, Negrón-Reichard added.
“This milestone marks a new chapter in our company’s history as a partner in Puerto Rico’s progress. The modern facility, nearly three times larger than our previous location, was developed to meet growing global demand for the Angio-Seal® device. This project represents a significant investment and reflects Terumo’s firm commitment to our customers and to the island’s economic development,” said Rafael Benítez, Senior Director of Terumo Puerto Rico.
The expansion is part of Terumo’s long-term strategy to consolidate its presence in Puerto Rico and respond to increasing global demand for advanced medical solutions.
Founded in Tokyo over 100 years ago, Terumo is a global leader in medical technology with a presence in more than 160 countries and regions, employing over 25,000 people worldwide. From its origins as a thermometer manufacturer, the company now offers a diversified portfolio that ranges from vascular interventions and cardiac surgery solutions to blood transfusion technology, cell therapy, and essential clinical products such as diabetes management systems and peritoneal dialysis treatments.
The second announcement was the relocation of pharmaceutical company Millicent Manufacturing PR, LLC to Puerto Rico. The company acquired Teva Pharmaceuticals’ facilities in Fajardo and will invest approximately $45.5 million in machinery, equipment, infrastructure, and working capital, supported by the Government of Puerto Rico’s reshoring initiatives.
“Our administration’s efforts to promote reshoring are bearing fruit. The start of Millicent’s operations in Fajardo, the first new pharmaceutical company to establish on the island in 15 years, will focus on manufacturing and commercializing women’s health products. This initiative will create more than 73 direct jobs with an estimated payroll of $16 million over the next five years, with potential to reach 100 high-paying jobs by fiscal year 2030. This move will have a positive multiplier effect on the economy of Puerto Rico’s eastern region,” stated the Governor.
Negrón-Reichard explained that Millicent will invest $16 million in machinery and equipment and $500,000 in infrastructure improvements. The company was also awarded $4.16 million in incentives under Puerto Rico’s Incentives Code, distributed as follows: $456,249 for job creation; $1,875,000 for reimbursement of up to 50% of asset acquisition costs from Teva; $1,825,000 for machinery and equipment; a research and development tax credit of up to 50% of the investment; and federal WIOA workforce training funds, including on-the-job training, customized training, and registered apprenticeships.
“So far this year, we are on the right track, focused on attracting investment from the pharmaceutical, biotechnology, and medical device industries. Puerto Rico has the potential to continue growing as a world leader in specialized manufacturing and exports. We have the best talent for this industry, a competitive incentive system, the necessary infrastructure, a top-tier support ecosystem, direct cargo connections to 18 countries, and connecting routes to 143 countries. Additionally, around 18,000 STEM students graduate annually in Puerto Rico. We have the expertise, and our goal is to keep that talent here by providing opportunities for them,” said Secretary Negrón- Reichard.
“We are confident that announcements like this will continue to multiply, benefiting Puerto Rico’s workforce, families, and the economic development we are building across all regions of the island,” emphasized Governor González-Colón.
“It has been about fifteen years since a new pharmaceutical company chose Puerto Rico for its operations. During that time, our industry has remained active through expansions and acquisitions, but Millicent represents a new milestone: the arrival of a new player that reaffirms confidence in our life sciences ecosystem,” added Negrón-Reichard.
“Puerto Rico offers us the ideal ecosystem to grow: a highly skilled workforce, institutional support, and strong infrastructure. We are excited to begin operations in Fajardo and are confident this facility will play a key role in expanding access to innovative women’s health treatments from Puerto Rico to the world,” concluded Frank Rodríguez, President of Millicent Manufacturing PR LLC. He explained that the company will develop and produce innovative, first-in-class women’s health products on the Island, including the contraceptive Femlyv.
Millicent Pharma, headquartered in Dundalk, Ireland, was founded in 2018 in collaboration with The Carlyle Group and veteran pharmaceutical leaders, including former Warner Chilcott executives. The company specializes in women’s health products and has acquired key assets such as Femring (2018) and Intrarosa (2020), and recently launched its latest product, Femlyv.
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