Enpath Medical Plans Facility Consolidation
01 Juin 2006 - 9:02PM
PR Newswire (US)
Long-Term Lease Signed for 95,000 Square Feet at Plymouth Site
MINNEAPOLIS, June 1 /PRNewswire-FirstCall/ -- Enpath Medical, Inc.
(NASDAQ:NPTH) announced today that it has entered into a ten- year
lease for 95,000 square feet of space at 2300 Berkshire Lane in
Plymouth, Minnesota. The Company intends to take occupancy on July
1, 2006 to commence build-out activities and to move its operations
in early January 2007. Enpath currently operates two separate
facilities in Plymouth and in Bloomington, Minnesota that will be
consolidated into the new location. "This facility will enable us
to gain significant efficiencies by incorporating world class
quality and manufacturing methodologies into the facility design
and operation," said John C. Hertig, Chief Executive Officer. "In
addition, expanding our space from less than 70,000 square feet
today to 95,000 square feet will enable expansion for the double
digit organic growth that we are anticipating over the next several
years. As a supplier to other medical device companies, we believe
it is critical that we have the ability to incorporate efficient
lean manufacturing techniques within our operations while providing
capacity to grow with our customers' needs." About Enpath Medical
Enpath Medical, Inc., headquartered in Plymouth, Minnesota, is a
leader in the design, development, manufacture and marketing of
percutaneous delivery systems and stimulation leads technologies.
Its proprietary products include venous vessel introducers,
articulating and fixed curve delivery catheters, epicardial and
endocardial stimulation leads, and other products for use in
pacemaker, defibrillator, catheter and infusion port procedures as
well as neuromodulation markets. Its products, which are primarily
finished goods, are sold worldwide through partnering relationships
with other medical device companies. Safe Harbor This news release
contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Certain important factors
could cause results to differ materially from those anticipated by
some statements made herein. All forward-looking statements involve
risks and uncertainties. A number of factors that could cause
results to differ materially are discussed in our Annual Report on
Form 10-K for the year ended December 31, 2005, as well as in our
quarterly reports on Form 10-Q and Current Reports on Form 8-K.
Among the factors that could cause results to differ materially are
the following: the ability of Enpath to complete the integration of
the Stimulation Lead operations acquired in October 2003; Enpath's
dependence upon a limited number of key customers for its revenue;
the ability of Enpath and its distribution partner to successfully
introduce the Myopore Rx steroid epicardial lead and the Fastac
Flex epicardial lead delivery tool; the ability of Enpath's
customers to successfully develop and market therapies that utilize
the Company's advanced delivery systems; Enpath's dependence upon
licensing agreements with third parties for the technology
underlying some of its products; Enpath's ability to effectively
manufacture its products, including steerable catheters, the
Myopore Rx steroid lead and the Fastac Flex delivery device, in
anticipated required quantities; Enpath's ability to develop or
acquire new products to increase its revenues; Enpath's ability to
attract and retain key personnel; introduction of competitive
products; Enpath's ability to successfully protect its intellectual
property against misappropriation or claims of infringement by
third parties; government regulatory matters; economic conditions;
and Enpath's ability to raise capital. All forward-looking
statements of Enpath, whether written or oral, and whether made by
or on behalf of Enpath, are expressly qualified by these cautionary
statements. In addition, Enpath disclaims any obligation to update
forward-looking statements to reflect events or circumstances after
the date hereof. DATASOURCE: Enpath Medical, Inc. CONTACT:
Investors, Doug Sherk, +1-415-896-6820, or Jennifer Beugelmans,
+1-415-896-6820, both of EVC Group Web site:
http://www.enpathmed.com/
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