Cryosurgery Products Manufacturer Moves Into New Lehigh Valley Location
By Colin McEvoy on January 5, 2023
A manufacturer of portable cryosurgery and cryotherapy products has moved into a new, larger location in the Lehigh Valley, a project that will create at least 61 new jobs.
CryoConcepts has relocated from its current 7,519 square-foot facility in Bethlehem to a new 23,275 square-foot facility at 1100 Conroy Place in Forks Township, a move which allows the Lehigh Valley life science company to expand its manufacturing capabilities and consolidate its operations.
“CryoConcepts is a cutting-edge company bringing innovation to the world of cryosurgical devices and procedures,” said Don Cunningham, President & CEO of the Lehigh Valley Economic Development Corporation.
“We are grateful for the commonwealth’s investment in them and CryoConcepts decision to grow in the Lehigh Valley, where the region’s thriving life sciences sector is more than 170 businesses strong, many of them contributing to the region’s $8.4 billion manufacturing sector,” Cunningham said.
CryoConcepts is a global market leader in portable cryosurgery. The company manufactures a complete line of cryosurgical products for the licensed healthcare professional, veterinary, and esthetics markets worldwide.
Cryotherapy is the use of extreme cold in surgery and other medical treatments for a short time for medical procedures or to free and remove abnormal tissue. CryoConcepts makes a wide range of cryo-based products for medical, aesthetic, and veterinary purposes.
“The growth we have experienced over the past five years for our medical, aesthetics and veterinary products required us to find a new dedicated medical grade facility,” said Sam Niedbala, CEO of CryoConcepts. “Continuing to locate in the Lehigh Valley is a benefit to our staff, and the East Coast location will help as we continue to introduce products in both the professional and consumer markets.”
In addition to creating at least 61 new jobs, CryoConcepts has also committed to retaining 28 existing, full-time jobs statewide and investing $1.6 million into the project within the next three years, according to the state.
“CryoConcepts is committed to expanding its manufacturing capabilities in the Lehigh Valley,” Niedbala said.
LVEDC has actively worked with CryoConcepts for the past several years, reviewing several incentive and loan programs with the company, and working through the Lehigh Valley Lending Network to help it find a new banking relationship and financing for the company’s growth.
LVEDC also connected the company with the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.
“The Governor’s Action Team helped us navigate to our new facility, along with support for training our expanding workforce,” Niedbala said. “Because of their great support, we’ve been able to quickly ramp up to meet our production needs.”
CryoConcepts received a funding proposal from the Pennsylvania Department of Community and Economic Development (DCED) for a $400,000 Pennsylvania Industrial Development Authority (PIDA) loan, a $183,000 Pennsylvania First grant, and a $50,000 workforce development grant to train workers.
LVEDC helped CryoConcepts submit its PIDA loan application for machinery and equipment needs. LVEDC also helped connect the company with brokers, and provided early real estate searches for its expansion.
“Having an innovative, pioneering company like CryoConcepts chose to grow their operations in Pennsylvania speaks volumes about our business environment and how it empowers companies to succeed and thrive here,” said Pennsylvania Governor Tom Wolf.
“It’s also a testament to the great work that the Governor’s Action Team does to attract new businesses and also help keep companies like CryoConcepts in the commonwealth,” Wolf said.
Through the Governor’s Action Team, Wolf has invested more than $17.8 billion over the past seven years to support 433 completed projects, created and retained more than 194,920 jobs for Pennsylvanians, according to the state.
“I’m glad that DCED and the Governor’s Action Team could help get this project across the finish line and keep this manufacturing company here in Pennsylvania,” said DCED Acting Secretary Neil Weaver. “CryoConcepts is a growing, trail-blazing company that will help bolster economic growth in the Lehigh Valley region.”
Feinberg Real Estate Advisors represented CryoConcepts in the lease of the Forks Township site, with the search for a new Lehigh Valley location beginning in mid-2021.
“Locating an industrial flex facility that would support medical grade products and be available for occupancy in late 2022 was a bit of a challenge,” said Cindy McDonnell Feinberg. “1100 Conroy Place turned out to be an excellent choice. We’re thankful for the confidence Sam and his team had in our organization to conduct the search and to help finalize their business terms.”
January 2023 Issue of LVStartup Has Been Released
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