Medical device software firm plans to add 120 employees

Indianapolis-based software company has embarked on an expansion that it says will create 120 high-wage jobs by the end of 2020.

The 4-year-old downtown firm, which make quality-management software for the medical device industry, announced Tuesday that it is spending $651,000 to move operations from the Stutz Business Center into a 7,200-square-foot office at Union 525—increasing its space by 50 percent.

The company made the move Monday.

Union 525, 525 S. Meridian St., is a 122,000-square-foot hub for tech businesses that opened this year in the 122-year-old Brougher Building.

Union 525 caters to high-growth tech firms that are past the startup phase, but still aren't quite big enough to reasonably predict how much space they'll need in five years or 10 years. The facility offers short-term leases that users can adjust as needs change.

The Indiana Economic Develop Corp. offered Soladoc LLC, which does business as, up to $1.55 million in conditional tax credits and up to $200,000 in training grants based on the job-creation plans. The company won’t qualify for the incentives unless it meets hiring goals. said it has already begun hiring for sales and software development positions. The jobs are expected to pay average salaries more than 75 percent higher than the state average wage of about $21.21 per hour. That would be roughly $77,000 per year.

The firm currently has 21 employees but signed the incentive agreement when it had 14, which means it will need to have 134 workers by the end of 2020 to fully meet terms of the contract.

The company designs software to help medical device companies automate quality processes to bring new devices to market faster. The software is designed to decrease clients’ development costs and improve the quality of their regulatory submissions to government regulators.

The firm said it has worked with clients in more than 270 cities, 26 countries and five continents over the past two years.

“What we saw when we looked at the medical device market was that the industry was stuck on a bunch of legacy systems and paper quality systems that were holding them back,” CEO David DeRam said in written comments. “These systems were not designed for medical device companies and were not allowing them to innovate and be efficient.  So we’re very proud of the fact we’ve been able to help device makers all over the globe, as well as right here in Indiana, replace those systems with sophisticated, cloud-based, modern quality-management software, enabling them to bring safer, life-changing products to market faster with less risk.”

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