The List: Knoxville-area life sciences and medical device firms

The Knoxville area has a growing interest in biotechnology that's a bright spot in the local economy.

"Knoxville has very strong potential to start several promising life science companies in the next three years," said Ken Woody, Life Science Tennessee Board member and president of Innova, an early-stage Venture Capital fund focused on healthcare and technology investments in Tennessee with offices in Memphis and Knoxville. "There is some exciting technology right now at Oak Ridge National Laboratory and UT Research Foundation in materials science and leading edge diagnostic devices."

Tennessee as a whole is home to more than 700 life sciences businesses, according to a 2012 report from nonprofit organization Life Science Tennessee. Employment in the industry pays an average of $69,000 a year, well above average private-sector wages.

East Tennessee in particular focuses on biofuels, life science research and commercialization of related technologies through many projects and partnerships tied to the University of Tennessee and Oak Ridge National Laboratory.

Mobile and tablet users - see a map of Knoxville-area biotech firms

Previously, our list included only biotech research firms. However, in June, Gov. Bill Haslam signed legislation that broadens medical laboratory licensing requirements in the state of Tennessee, a move touted to make it easier to hire employees for this growing field.

Officials hope the legislation will allow Tennessee to catch up with other states, as the life sciences--or biosciences--field is experiencing growth across the nation, according to the U.S. Department of Labor.

In recognition of the growth in this field, the list now includes life sciences and medical device manufacturing companies.

Despite expanding our list beyond last year's footprint, this year's largest life sciences and medical device manufacturing company remains Siemens Healthcare, which employs nearly 600 people in its Molecular Imaging Business Unit's two local offices.

It's one of the area's major manufacturers, of any product, and is owned by foreign firm Siemens AG of Germany. It rose from No. 90 to No. 68 on our list of major employers in the area last year, and more growth may be coming.

The company recently announced its local facility, which was born from the purchase of local firm CTI Molecular Imaging, will build its new PET/CT scanner, the Biograph mCT Flow. The new technology allows a patient to move through the machine while being continuously scanned.

As a result of the legislative changes, one new contender to the list this year is No. 2 company Kimble Chase Life Science, which manufactures laboratory glassware in Rockwood, employing 370 people.

Another Rockwood company comes in at No. 4. Alba Health develops medical bandaging and cotton stockings.

Other notable firms are new to this list, but not the Knoxville community.

At No. 3, DeRoyal Industries, a manufacturer of medical devices, is the first fully local company on the list, founded by Pete DeBusk in 1973 when the then-salesman came up with the idea of an orthopedic cast boot. Today, the company provides more than 25,000 products and is one of the largest suppliers of orthopedic softgoods in the country.

ABT Molecular Imaging at number nine, like Siemens, also has its roots in CTI Molecular Imaging. After CTI, Ron Nutt founded the new company in 2006 to expand the use of PET around the world. The company seeks to provide on-demand access to PET biomarkers. In April of this year the company successfully installed its next-generation Biomarker Generator technology, which provides individual doses of molecular imaging drugs, at the Sveta Marina University Hospital in Bulgaria. The company plans to expand use of the doses in the European region and globally.

The Life Science Tennessee report noted Knoxville company Provectus Pharmaceuticals, ranked 14th on our list, as one of the growing biotechnology companies in the state. Provectus mainly develops therapies to combat cancer, although it owns several over-the-counter skincare products as well. In June of this year the company received a patent allowance from the U.S. Patent and Trademark Office related to ingredients in PV-10, its lead oncology drug candidate.

Expect a shakeup in the top contenders next year. Earlier this week Knoxville medical sciences company ProNova Solutions broke ground on its new headquarters that will anchor the Pellissippi Place technology park in Blount County. The company is investing $52 million in the site that will include a research facility and production plant along with offices. The company will start with 35 employees but plans to expand the site to 200,000 square feet are already in place. The company estimates it will have about 500 employees when the project is complete.

For full information on Knoxville-area life sciences and medical device firms visit knoxvillebookoflists.com.