Monteris Medical Announces New Corporate HQ In Plymouth To Accommodate Rapid Growth And Expansion

MAYOR SLAVIK TO CUT CEREMONIAL RIBBON AT NEW FACILITY ON MARCH 16TH

Mar 14, 2016, 08:00 ET from Monteris Medical

PLYMOUTH, Minn., March 14, 2016 /PRNewswire/ -- Monteris Medical, a privately held company developing innovative laser-based MRI-guided neuroablation tools and solutions, today announced the opening of a new facility in Plymouth, Minnesota. The company will host a ribbon cutting event on Wednesday, March 16th, 2016, at the new facility, located at 14755 27th Ave N, Suite C.

Plymouth Mayor Kelli Slavik will cut the ceremonial ribbon to welcome Monteris to its new home. Monteris Medical President and CEO John Schellhorn will speak about progress and lead a tour of the new facility.

Monteris Medical markets the NeuroBlate® System, a neurosurgical ablation device providing controlled thermotherapy for neurological tissue such as brain lesions. Since receiving FDA clearance in 2013, NeuroBlate has been used in more than 800 patient procedures across 35 installed systems in the U.S. and Canada.

"We're delighted to see Monteris Medical succeed and expand in our community – especially at such an impressive pace," said Plymouth Mayor Kelli Slavik. "Forward-driven companies like Monteris Medical showcase the spirit of innovation in Plymouth, especially in our thriving med-tech sector. We're very proud to have them as part of our community."

Monteris Medical was founded in 1999 with the mission to create neurosurgical technology that can ablate brain lesions and brain tumors that may be difficult to approach via traditional methods or were previously considered inoperable. In 2012, the Company established its U.S. operations in Plymouth. Following a four-year period of rapid growth, Monteris recently moved from a 7,000 square foot space to a 16,000 sq. ft. space, a multifunctional facility that will include 7,000 sq. ft. of office and meeting space and 9,000 sq. ft. of manufacturing, assembly, warehouse and laboratory space.

In 2015, Monteris expanded its employee base by approximately 50% and the Company plans to further augment its staff by another 30% in 2016. About half of all Monteris employees are based in Plymouth and a majority of the recent and planned new hires are in Minnesota as well.

"As part of an established and growing medical technology corridor with a highly skilled workforce, Plymouth is a perfect location to continue our next phase of growth and development," said John Schellhorn, President and CEO of Monteris Medical. "We have been fortunate to expand rapidly over the previous four years and are excited to make our new home in a facility that will accommodate our expanding employee base and serve as our global operations center."

Individuals from Plymouth, Minneapolis and St. Paul-based businesses, academia, government and media interested in learning more about the event may contact Matt Romney at Lazar Partners, Monteris Medical's public relations firm. Matt can be reached at 212-876-9212 or mlromney@lazarpartners.com.

About the NeuroBlate System®

The NeuroBlate System is FDA-cleared to ablate, necrotize or coagulate soft tissue encountered in the discipline of neurosurgery through the application of laser thermotherapy. NeuroBlate is a tool (as opposed to a "treatment") and is not intended to treat any specific disease. Physicians should use their clinical judgment and experience when deciding whether to use NeuroBlate.

Full prescribing information for the NeuroBlate System is available at www.monteris.com.

About Monteris®

Monteris Medical is a privately held company developing innovative MRI-guided, laser-based brain lesion therapy. Monteris Medical markets the NeuroBlate® System, a neurosurgical ablation device providing controlled therapy for difficult-to-treat brain lesions. Monteris also offers the AXiiiS® Stereotactic Miniframe; a single use platform for image-guided, stereotactic brain biopsy; and the AtamA™ Stabilization System for MRI-guided neurosurgical procedures requiring head fixation.

For more information on Monteris Medical please visit www.monteris.com.

SOURCE Monteris Medical



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