To accommodate its rapid growth, Trimedyne Inc., a Santa Ana maker of laser catheters that are used to treat blocked arteries, said Tuesday it has signed a 10-year lease valued at $7.5 million for a larger headquarters and manufacturing facility in Tustin.
Richard A. Demmer, Trimedyne executive vice president, said the company has agreed to lease a new 69,700-square-foot facility at 1311 Valencia Ave.
The new facility is less than a mile north of the Santa Ana location where Trimedyne currently leases two buildings with a total of 38,000 square feet of space. Trimedyne plans to vacate all but 13,000 square feet of that space, Demmer said. The company has 160 employees in Orange County.
Trimedyne also has a laser manufacturing plant in Orlando, Fla., and recently signed an agreement with a firm in West Germany to make a laser to sell with Trimedyne catheters in the company’s expanding overseas market.
“The new facility will serve as corporate headquarters and center for worldwide marketing, new product research/development and manufacturing,” he said. He also noted that the move, scheduled to begin in December and be completed in mid-February, will allow the company to immediately expand its manufacturing capacity to keep pace with growing domestic and foreign sales.
In a 9-month period ending June 30, Trimedyne’s sales grew 155% to $20.6 million from $8.1 million, and its net income increased 1,075% to $3.7 million from $319,000.