Biomet prepares to close doors on a 230-employee manufacturing facility in Switzerland, citing a global dip in medical device prices and ongoing economic challenges.

MassDevice.com reports today that Biomet is letting go of a Swiss manufacturing facility where 230 workers will be dismissed. The company blames the decision on “declining global prices for medical devices and a challenging economic environment.”

The Le Locle, Switzerland location will close doors within the year and operations will shuffle to other facilities around the globe. No closure-related layoffs will occur prior to June 2014, according to a company statement.

Biomet said workers will be relocated wherever possible, saying the shut-down is necessary to improve “the cost-efficiency of its global manufacturing operations in the changing medical device market.”