This Medtech Company Is Rocking Cleveland with New Hires

Cleveland does indeed seem to "rock", at least for one medtech company that has set up shop in the city.  Goleta, CA-based Inogen, which makes portable oxygen concentrators (POCs) is planning to grow its presence in Cleveland. CEO Scott Wilkinson said the company expects to have 500 Cleveland-based employees by the end of 2020, which up from the company's original target of 240 employees. Wilkinson said at least two-thirds of these employees will be sales reps. The company generated $97.2 million in revenue, reflecting record results in all three of its sales channels. Inogen's direct-to-consumer sales for the quarter was $38.3 million, which Wilkinson said was due to increased sale representative headcount and associated consumer's advertising. "Given our recent success, our strategy is to continue to hire additional sales representatives and invest in advertising activities to increase consumer awareness, as we believe this is still our most effective means to drive growth of direct-to-consumer sales," he said. By adding to its headcount in Cleveland, the company expects to receive a total incentive package of $3.5 million from the state of Ohio, up from an original package of $1.9 million. The incremental $1.6 million the company expects to receive comes in the form of a $250,000 economic development grant and a $1.4 million tax credit extension from the state, which equates to a 1.7% payroll credit for the next 10 years. Wilkinson said Inogen plans...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news