The Versailles-based maker of a newly approved technology for treating opioid withdrawal symptoms plans to expand its operations in central Indiana, creating as many as 25 jobs by 2019.
Founded in 2011, Innovative Health Solutions Inc. received clearance from the Food and Drug Administration last week for selling the device known as the NSS-2 Bridge. It’s worn behind the ear, where electrodes stimulate nerves in the brain and spinal cord to help relieve addiction symptoms.
The firm currently has seven employees—five in Versailles and two at 11550 N. Meridian St. in Carmel. Next year, it plans to invest $500,000 in an expansion to new leased offices in either Hamilton County or Marion County and to hire as many as 25 workers for that location, officials told IBJ on Monday.
The firm also plans to add another seven employees to its Versailles headquarters.
The company hasn’t yet identified its new base of operations for central Indiana, according to a spokeswoman. The company plans to hire for sales, marketing, nursing and executive positions. The jobs on average are expected to pay about $70,000 per year.
The company is preparing for a big push behind the NSS-2 Bridge. Approval from the FDA comes amid an epidemic of opioid abuse, which includes both illegal narcotics like heroin and prescription painkillers.
The FDA said a study of more than 70 patients showed a 30 percent decrease in symptoms within 30 minutes of using the device.
"Our vision is for every person in withdrawal, preparing for withdrawal, or suffering from post-acute withdrawal symptoms, to have access to this technology,” said Brian Carrico, president of IHS, in a media release. “Significantly reducing withdrawal symptoms lessens the dependency on opioids, allows for easier transition to medically assisted treatment and ultimately works as another tool to combat the opioid epidemic facing our country.”
The Indiana Economic Development Corp. has offered IHS $275,000 in tax credits and $150,000 in training grants based on the firm’s job creation plans. The tax credits are conditional, meaning they can’t be claimed until jobs are filled.