Cole was with Richards Medical before the acquisition by Smith and Nephew, and she said the company's orthopedic division remains largely autonomous.
"Of course, the owners have a final say on anything, but we haven't had huge changes outside of the normal changes any business goes through over the years," said Cole. "The industry is always changing and any changes here have been market driven."
An advantage European companies can offer is a chance to work in or travel to different places in the world. Cole said managers at Smith and Nephew have the opportunity to transfer to the company's operations in England and other countries.
"We had one guy here who went to Australia," said Cole. "One of the persons here in Memphis came over from the London office. There's a lot of advantages to being part of an international company."
States team up with countries to boost investment
Part of North Carolina's success in attracting European investment in the medical industry comes from cementing relationships with European governments. In 1998, the state signed an agreement with the German state of North Rhine Westphalia.
The pact allows for the exchange of biotechnology information and resources between the two entities.
The state of California signed a similar agreement with the German state of Bavaria. The pact gives California businesses help in entering the German market and assistance for German companies interested in California. One focus of the agreement is biotechnology.
Global launch pad
While many European medical companies set up in the United States to reach the American market, others see the American market as a springboard to the rest of the world.
Bayer Biological Products, for example, is relocating its world headquarters to the Research Triangle Park.
| While many European medical companies set up in the United States to reach the American market, others see the American market as a springboard to the rest of the world. |
The subsidiary of the German-based Bayer Corp. already employs 1,200 people in North Carolina at a manufacturing plant in Clayton and research labs in Research Triangle Park and North Carolina State University.
Bayer Biological Products manufactures products in the areas of plasma and gene therapy. The company bought a 47,000 square foot building for its new site. The operation will coordinate Bayer Biological Products manufacturing facilities in Berkeley, Calif., and Rosia, Italy.
"We believe consolidating our operations in North Carolina will strengthen our business and enable us to compete more effectively on a global basis," said Jan Turek, senior vice president and general manager of Bayer's Biological Product business unit.
The Bayer Group, the parent company of the various Bayer divisions, announced in March that it will invest more than $15 million in the United States over the next 10 years.
Included in Bayer's divisions are agriculture, chemicals and health care. The biggest portion of money will be directed toward health care businesses, including pharmaceuticals, consumer care products and diagnostics.
The aging populations in the United States, Europe and Japan will sustain demand for medical products, such as surgical appliances and devices like prosthetics and wheelchairs.
"If you want to be a global company, you must have a strong base here (U.S.)," said Willard Berry, president of the European-American Business Council. "This is a great place to reach the rest of the world."
-- Lance Yoder
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