Medical Tech Firm BioStem Technologies Relocates Headquarters to Boca Raton, Secures City Grant

BioStem Technologies, a leading medical technology company specializing in advanced wound care solutions, has announced plans to relocate its headquarters to Boca Raton.

The company has secured a four-acre parcel within the Research Park at Florida Atlantic University to construct a state-of-the-art facility housing its administrative offices, manufacturing, and distribution operations.

In a strategic move to attract BioStem, the City of Boca Raton has approved up to $300,000 in economic incentives.

This grant is contingent upon the creation of 100 new jobs over the next five years, with an average annual salary of $81,000.

To qualify for the full incentive, the company must maintain this salary threshold throughout the retention period.

"Any time that we can have jobs here, we thank you for making Boca Raton your home," said Councilwoman Yvette Drucker to BioStem representatives.

"I know you were picking between two cities."

BioStem had considered various locations, including sites in Tennessee, Massachusetts, and North Carolina's Research Triangle region, before selecting Boca Raton.

The decision underscores the city's growing appeal as a hub for medical technology and innovation.

According to the company's website, BioStem is a leading "regenerative medicine company focused on the development, manufacture, and commercialization of placental-derived allografts for advanced wound care."

They emphasize "maintaining natural growth factors and preserving tissue structure."

The Research Park at Florida Atlantic University is home to numerous technology companies and research-based organizations, serving as a hub for collaboration by connecting industry leaders and researchers, driving innovation and economic growth across South Florida.

BioStem's relocation is expected to further enhance the park's reputation as a center for cutting-edge medical research and development.

While a specific timeline for the move has not been set, the company is committed to working closely with city officials and the Research Park to ensure a smooth transition.

This relocation is anticipated to have a significant positive impact on the local economy, providing high-paying jobs and fostering further growth in the medical technology sector within Boca Raton.