MINNEAPOLIS, Sept. 30 /PRNewswire/ -- Galil Medical, a global leader in minimally invasive cryotherapy treatments for cancers and other disorders, announced today that it is establishing its new Global Headquarters in Minneapolis, MN. The company is expected to open this new facility in Arden Hills during the fourth quarter of 2009. Along with its corporate staff and US operations' functions, the company will also locate its global marketing, clinical/regulatory and its systems development and assembly functions in this new facility. Galil Medical will maintain needle manufacturing and R&D operations in its facility in Yokneam, Israel, as well as its European headquarters in London.
Martin J. Emerson, President and CEO, of Galil Medical comments: "We are excited about locating our Global Headquarters in Minneapolis. We feel the strong medical device presence in the greater Minneapolis and St. Paul area will give us access to a wide range of important resources and talent."
James E. Thomas, General Partner of Thomas, McNerney & Partners and member of Galil's Board of Directors, commented: "The decision to locate Galil's Global Headquarters in the Minneapolis area is part of our five year strategic plan recently approved by the Board of Directors. This plan includes the necessary funding for clinical data that will further document the value of cryotherapy for the focal treatment of prostate cancer and the treatment of renal cancer. Importantly, the plan also includes funding for advancing the state of the art cryotherapy technology."
Emerson concluded, "Galil Medical is now the only company solely devoted to the growth and development of cryotherapy. We have the experience, resources and commitment to pursue these goals for years to come."
About Galil Medical Galil Medical is a global medical device company that develops, manufactures and markets innovative products utilizing a proprietary cryoablation platform that incorporates powerful freezing technology and revolutionary 17-gauge cryoablation needle design. The company has offices in Yokneam, Israel; Plymouth Meeting, Pennsylvania; and London. Shareholders include Thomas, McNerney & Partners, The Vertical Group, Investor Growth Capital, Elron Electronic Industries Ltd. (Nasdaq: ELRN - News) and RDC Rafael Development Corporation, Ltd.