TK Investment Group LLC, the real estate affiliate of Innovative Medical Design Inc., a custom manufacturer of specialized medical catheters, has received a $360,000 real estate loan from MassDevelopment for an expansion project.

The company will relocate from New Hampshire to a 3,600-square-foot building near downtown Ayer, according to a statement.

"North-central Massachusetts hosts more and more of the commonwealth’s innovative manufacturers," said MassDevelopment Executive Vice President of Finance Programs Laura Canter. "We’re pleased to support the expansion of Innovative Medical Designs as we seek to grow the region and the state’s manufacturing sector."

"The new home of Innovative Medical Design in downtown Ayer will allow the company to implement its expansion plans at one centralized location, helping us to better and more efficiently serve the technical requirements and product volume of our customers," said Innovative Medical Design President Tai Kien. "We’re excited to return to Massachusetts."