Enpath Medical Completes Facility Consolidation as Scheduled
April 10 2007 - 7:30AM
PR Newswire (US)
Enpath completes move into new 95,000 square foot facility with
over 18,000 square feet of cleanroom space. MINNEAPOLIS, April 10
/PRNewswire-FirstCall/ -- Enpath Medical, Inc. (NASDAQ:NPTH), a
leading developer and manufacturer of introducers and other
proprietary therapeutic device delivery products, announced today
it has consolidated its previous Bloomington and Plymouth,
Minnesota operations on schedule into a new World Class facility
located at 2300 Berkshire Lane North in Plymouth, Minnesota. "Our
facility consolidation provides us with the space we need in order
to achieve our goal of 15-20% annual revenue growth," said Mr. John
C. Hertig, Chief Executive Officer of Enpath Medical, Inc. "The
World Class facility we now occupy was designed from the very
beginning to maximize our lean manufacturing initiatives, create a
very positive work environment for our employees and to continue
our tradition of providing our customers with high quality medical
device products and services. With our operations now combined, we
will continue to improve efficiencies and gross margins and we will
continue our responsiveness to our customer needs," said Mr.
Hertig. The new facility provides Enpath Medical with a combined
95,000 square feet of operating space including corporate offices,
R&D, warehouse/distribution and more than 18,000 square feet of
cleanrooms for medical device manufacturing. "The investment we
made in our new facility and our initiatives involving production
automation and lean manufacturing clearly demonstrates our
commitment to increasing our current market share as the world
leader of venous introducers. We can now easily expand the use of
our proprietary introducer technology into larger related markets,"
said Mr. Mark Kraus, Vice President, General Manager - Introducers.
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, 2006, 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: Enpath's dependence
upon a limited number of key customers for its revenue; Enpath's
ability to successfully protect its intellectual property against
misappropriation or claims of infringement by third parties
including its ability to successfully resolve, or defend itself in,
pending litigation; the ability of Enpath's customers to
successfully develop and market therapies that utilize the
Company's advanced delivery systems; Enpath's ability to
effectively manufacture its products, specifically steerable
catheters, 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; 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. CONTACT Scott Youngstrom,
CFO (763) 951-8211 DATASOURCE: Enpath Medical, Inc. CONTACT: Scott
Youngstrom, CFO of Enpath Medical, Inc., +1-763-951-8211, Web site:
http://www.enpathmed.com/
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