Abiomed Announces Impella 2.5 Capacity Expansion Plans in Ireland.DANVERS, Mass. -- Abiomed, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABMD ABMD areal bone mineral density ABMD AEGIS Ballistic Missile Defense (US Navy) ABMD Advanced Ballistic Missile Defense ) today announced that it had recently signed a long-term operating lease Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. for a manufacturing facility in Athlone, Ireland. Abiomed expects to begin facility preparations immediately and currently anticipates that the first Impella 2.5 Cardiac Assist Device production line will be operational in approximately eighteen months. Abiomed's Impella 2.5 capacity expansion plans in Ireland are intended to meet anticipated long-term demand for the device and augment capacity from the Company's Aachen, Germany facility. In June 2008, Abiomed announced that it had received U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) 510(k) clearance for its Impella 2.5 that allows Abiomed to begin selling the device to the estimated 14,000 interventional cardiologists at approximately 1,700 heart hospitals in the United States Lists of hospitals for each U.S. state:
"We are excited to announce our capacity expansion plans to meet anticipated long-term demand for our Impella 2.5 device," said Michael R. Minogue, Chairman, Chief Executive Officer and President of Abiomed. "We chose this Ireland location because it simply met our primary criteria - a great building with existing clean room space, a great workforce, a strong supplier network and the financial and cash investments are within our previously budgeted Fiscal Year 2009 plan." The Company announced that the Ireland facility has a total of 33,000 square feet of space including approximately 10,000 square feet of finished clean room space. The Company indicated that the longer-term plans for the Ireland facility will be to designate Ireland as Abiomed's global center of excellence for high-volume disposable products manufacturing including the Impella 2.5 and the extended Impella product line of the Impella 5.0, right percutaneous percutaneous /per·cu·ta·ne·ous/ (per?ku-ta´ne-us) performed through the skin. per·cu·ta·ne·ous adj. Passed, done, or effected through the unbroken skin. and Impella pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. products and other circulatory circulatory /cir·cu·la·to·ry/ (ser´ku-lah-tor?e) 1. pertaining to circulation, particularly that of the blood. 2. containing blood. cir·cu·la·to·ry n. 1. care disposable products that Abiomed may offer in the future. The Company will host a conference call today at 8:00 a.m. ET to discuss its Impella capacity expansion plans in Ireland. Michael R. Minogue, Chairman, Chief Executive Officer and President, and David Weber David Mark Weber is an American science fiction and fantasy author. He was born in Cleveland, Ohio in 1952. In his stories, he creates a consistent and rationally explained technology and society. , Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. will host the conference call. To listen to the call live, please tune into the webcast via http://investor.abiomed.com or dial 866.383.8119; the international number is 617.597.5344. The access participant code is 94822456. A replay of this conference call will be available beginning at 10 a.m. ET on July 30, 2008 through 11:59 p.m. ET on August 30, 2008. The replay phone number is 888.286.8010; the international number is 617.801.6888. The replay access code is 67052924. ABOUT ABIOMED Based in Danvers, Massachusetts Danvers is a town in Essex County, Massachusetts, United States. Located on the Danvers River near the northeastern coast of Massachusetts, Danvers is most widely known for its association with the 1692 Salem witch trials. , Abiomed, Inc., is a leading provider of medical devices that provide circulatory support to acute heart failure patients across the continuum of care in heart recovery. Our products are designed to enable the heart to rest, heal and recover by improving blood flow and/or performing the pumping of the heart. For additional information please visit: www.abiomed.com. FORWARD-LOOKING STATEMENTS This Release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, anticipated future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report filed on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this Release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this Release or to reflect the occurrence of unanticipated events. |
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