ATRICURE INC.
What: Makes medical devices used in heart surgery
Where: 6217 Centre Park Dr., West Chester Twp.
Phone: 513-755-4100
Chief Executive Officer: Mike Carrel
Website: www.atricure.com
Employees: Approximately 275 worldwide; including 170 in West Chester Twp.
AtriCure Inc., a growing, locally-based medical device manufacturer, has revealed plans to build new headquarter offices at a Butler or Warren county site yet-to-be-determined, said Andy Wade, vice president and chief financial officer.
“We’re still early in the process,” Wade told Journal-News Wednesday. “The point is we’re a growing company, we’ve had a fantastic year, the stock is performing well, but more than anything, we’re bursting at the seams.”
The West Chester Twp.-based company makes medical devices used in heart surgery. Currently, it has headquarter offices, research and development, and manufacturing activities occupying four buildings on Centre Park Drive. AtriCure and a predecessor company have leased space there for at least 15 years.
AtriCure employs approximately 275 employees worldwide, including a sales force throughout Europe and the U.S.; offices in Amsterdam and the San Ramon area of California; and roughly 170 employees in West Chester Twp. An office is opening this year in Minneapolis, Minn., the home of Mike Carrel, named chief executive officer at the end of 2012.
“The investment in the area is affirmation that we’re committed here,” Wade said.
Now that AtriCure leaders are hunting for a property, the next steps include closing a deal to buy land, selecting a builder/developer and finalizing the design, Wade said. The cost of the project is undisclosed. Once construction is complete, hopes are to move into the newly-built offices by late 2015 or early 2016, he said.
In 2013, AtriCure invested heavily in education and awareness efforts of its products to doctors.
At the end of last year, AtriCure closed an acquisition of San Ramon, Calif.-based Endoscopic Technologies Inc., which does business as Estech. The private California company has developed radiofrequency devices complimentary to AtriCure’s product lineup.
The stock price grew from $7.14 per share on Jan. 2, 2013, to close at $18.68 per share on Dec. 31, 2013.
On Jan. 9, AtriCure released preliminary results for 2013 showing year-over-year revenue growth of 17 percent, with 2013 revenues expected to be $81.9 million. The company expects revenues to grow more than 20 percent in 2014.
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