Theragenics Corporation (TGX)'s Needletech Opens New Facility In N. Attleborough
10/25/2010 7:25:12 AM
NORTH ATTLEBORO, Mass., Oct 25, 2010 (BUSINESS WIRE) -- U.S. Congressman James McGovern, State Representative Elizabeth Poirier and local dignitaries joined Theragenics Corporation /quotes/comstock/13*!tgx/quotes/nls/tgx (TGX 1.22, -0.02, -1.61%) executives in ribbon cutting ceremonies on October 15 for a new 73,000-square foot manufacturing facility for the company's subsidiary, NeedleTech Products. The new facility increases NeedleTech's production area by 30% or 20,000 square feet, allowing the company to consolidate two separate older facilities into one location. The new building will allow NeedleTech to expand operations, increase R&D and offer more services to its customers.
Joseph Plante, President of NeedleTech commented, "The new facility allows us to provide faster turn-around and increases our capabilities, especially in the areas of metal fabrication, overmolding, clean room assembly and packaging and quick-turn prototyping. Just as importantly, our dedicated staff is now even better equipped to provide superior service to our customers."
M. Christine Jacobs, Chairman and CEO of Theragenics Corporation commented, "Our investment in this facility demonstrates Theragenics' commitment to support growth in our surgical products business. Our specialty needle business was severely cramped for space, and the new quarters increase capacity, streamline operations, and provide NeedleTech with the capability to offer more development and fulfillment options to customers."
NeedleTech designs, engineers and manufactures custom devices as well as a comprehensive line of needle products. As a leading ISO 13485-2003 vertically integrated medical device manufacturer, NeedleTech provides needle point grinding, steel and plastic machining and fabrication, insert and injection molding, device assembly, and sterile packaging services. NeedleTech' medical devices serve a number of markets and applications, including, among other areas, interventional cardiology, interventional radiology, orthopedics, veterinary medicine, pain management, endoscopy, and spinal surgery.
Theragenics Corporation /quotes/comstock/13*!tgx/quotes/nls/tgx (TGX 1.22, -0.02, -1.61%) operates two business segments: its surgical products business and its brachytherapy seed business. The surgical products business (www.cpmedical.com, www.galtmedical.com, www.needletech.com) manufactures and distributes wound closure, vascular access, and specialty needle products. Wound closure products include sutures, needles and other surgical products. Vascular access includes introducers, guidewires and related products. Specialty needles include coaxial, biopsy, spinal and disposable veress needles, access trocars, and other needle-based products. The surgical products segment serves a number of markets and applications, including, among other areas, interventional cardiology, interventional radiology, vascular surgery, orthopedics, plastic surgery, dental surgery, urology, veterinary medicine, pain management, endoscopy, and spinal surgery. The brachytherapy business manufactures and markets its premier product, the palladium-103 TheraSeed(R) device (www.theraseed.com) and I-Seed, an iodine-125 based device, which are used primarily in the minimally invasive treatment of localized prostate cancer. For additional information, call our Investor Relations Department at (800) 998-8479 or visit www.theragenics.com.
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding faster turn-around times and increased capabilities, development, and fulfillment options. Actual results may differ materially due to a variety of factors, including, among other things, uncertainties related to start-up and ramp-up of operations at the new facility, the transition to the new facility, and other factors set forth from time to time in our filings with the Securities and Exchange Commission. All forward looking statements and cautionary statements included in this document are made as of the date hereof based on information available to us as of the date hereof, and we assume no obligation to update any forward looking statement or cautionary statement.