Osceola County Commission Approves Negotiations With Medical Device Company to Establish Presence at NeoCity

BOCA RATON, FL / ACCESSWIRE / December 17, 2024 / The Osceola County Board of County Commissioners has approved a Memorandum of Understanding (MOU) with Concept Companies and Empyrean Medical Systems, Inc., a global medical device technology company, marking another significant step in developing NeoCity as a premier technological innovation district.

Under Monday's MOU, Empyrean would consider leasing space at NeoCity in 2025, focusing on advanced engineering and precision parts fabrication for radiation oncology devices, medical imaging, and superconducting technologies for its particle accelerators. The strategic partnership could represent the first phase of a comprehensive plan to establish a 50,000- to 100,000-square foot facility by early 2028, which will consolidate Empyrean's advanced superconducting and magnetics research and development, manufacturing, and administrative operations.

"The MOU with Empyrean's exemplifies the type of innovative, technology-driven companies we are attracting to NeoCity," said Viviana Janer, Chair of the Osceola County Commission. "By leveraging our semiconductor ecosystem and advanced technical infrastructure, we're creating a magnet for cutting-edge technological enterprises that drive economic diversification and high-value job creation."

The company would create at least 60 high-skilled positions with an average annual salary of $80,000 by 2033, further strengthening the region's advanced technology workforce.

Empyrean was founded to fundamentally disrupt and replace current devices and technologies employed to treat cancer patients worldwide.

Kal Fishman, President and CEO of Empyrean, said, "NeoCity's sophisticated technological ecosystem provides us with an unparalleled environment for innovation. NeoCity allows us to tap into a rich network of technological resources and talent. It uniquely enables our research and development work, precision fabrication, and manufacturing of our state-of-the-art products and components. We are proud to consider establishing our most advanced facility at NeoCity in our home state of Florida and create new high-skilled job opportunities in Osceola County in full collaboration with Magnetics Corporation, our strategic partner in this project."

Magnetics Corporation (MagCorp) is a key connecting partner, bringing Empyrean and the County together to create continued progress towards a future that will generationally advance critical commercial technologies in energy and health.

Concept Companies is the real estate developer for the project and would complete the purpose-built facility for the company at NeoCity that could be sized between 50,000 and 100,000 square feet.

"Concept specializes in science, technology, and healthcare real estate development projects," said Seth Lane, Executive Vice President of Real Estate for Concept Companies. "Working with Empyrean with the strong support of Osceola County and the NeoCity team will yield a tremendous project that is transformational for our community."

With the MOU approval, the County, Concept and Empyrean have 120 days to finalize a comprehensive development agreement, continuing Osceola County's strategic vision of creating a dynamic, technology-driven economic landscape.

The investment builds upon NeoCity's growing momentum in technological development, including:

• Creation of the Central Florida Semiconductor Innovation Engine through a National Science Foundation award

• Critical funding from the Department of Defense and U.S. Economic Development Administration

• Establishment of a semiconductor accelerator program by Plug and Play

• Partnerships with leading technology institutions like SkyWater Technology, imec USA, and multiple universities

By attracting innovative companies like Empyrean and building a robust technology ecosystem with partners such as Concept and MagCorp, Osceola County is positioning itself at the forefront of high-tech innovation and inclusive economic growth.

About Empyrean

Using highly specialized magnetics, photonics, novel particle accelerators, and advanced materials science, Empyrean Medical Systems, Inc.'s products integrate the latest in quantum physics, high-temperature superconductors (HTS), synthetic diamonds, molecular biology, and machine learning to offer first-in-class accuracy, efficacy, and safety in cancer treatment.

About Concept

Since 2004, Concept Companies have created environments that enhance, empower, and inspire. Concept Companies is a nationwide, full-service real estate company, headquartered in Gainesville. It has built a team of trusted experts across multiple sectors, including Mixed-use Masterplan Developments, Science and Technology, Industrial, and Office. Concept Companies has developed more than 300 projects totaling more than 10 million square feet across various sectors in the United States.

About Magnetics Corporation

MagCorp is on a mission to usher in the industrial era of superconductivity through its ongoing efforts in private-sector joint technology development, public-private partnered economic development and corporate growth solutions. MagCorp is leading the creation of the world's first commercial HTS ecosystem and anchoring it in the State of Florida to solve some of the most pressing grand challenges to humanity.

About Osceola County and NeoCity

Osceola County is one of the fastest growing counties in the nation. It is a dynamic and innovative community focused on a vision to be the center of research and manufacturing innovation of a regional economy and in doing so, it aims to enhance the quality of life for its residents using responsible resource management, innovative public services, and community engagement. Following the impacts of the COVID-19 pandemic, when unemployment hit 30 percent (the highest in the state), Osceola County decided to make a long-term investment to create a 500-acre technology district known as NeoCity to diversify its economy. Working with the National Science Foundation, the Central Florida Semiconductor Innovation Engine seeks to be a global leader in the advanced and specialty packaging of semiconductors based in Florida.

Contact Information

Ms. Madelyn Seal
Empyrean Medical Systems
info@empyreanmed.com
561.931.2086

SOURCE: Empyrean Medical Systems