PROJECT: Panacea Medical Technologies

TIMELINE: Construction is anticipated to begin in 2021.

BACKGROUND: Panacea is an innovative medical equipment manufacturer that pioneers solutions for the diagnosis and treatment of cancer and radiotherapy treatment. The new space will house production of Panacea's Hexatron LINAC Radiation Therapy machines, engineering, and research and development teams, enabling the company to increase production and better serve its customers located in North, Central and South America, the Caribbean and Western Europe.

TYPE: Medical Technology, Advanced Manufacturing

  • New 20,000 square foot facility Company’s North American headquarters
  • Anticipate 65 full-time employees

DEVELOPER: This is a a public-private partnership between Panacea Medical Technologies and the City of Noblesville. 

ESTIMATED COST: $11,735,000

  • The city investment will come from property taxes generated by the project itself and does not involve the use of any existing tax revenues. 
  • Panacea is receiving financial incentives from the State of Indiana (up to $600,000 in conditional tax credits based on the company’s job creation plans and up to $500,000 in conditional tax credits from the Hoosier Business Investment tax credit program based on the company's planned capital investment in Indiana). 

LOCATION: 141st Street & Olio Road along the Interstate 69 corridor.