Lake Region Manufacturing Inc

Description

Due to impending and unknowable tax impacts from the new U.S. Healthcare bill, Original Equipment Manufacturers (OEMs) have begun to more closely scrutinize non?core research and design budgets. According to Jim Mellor, Lake Region Vice President of Sales and Marketing, the current R&D constraints on MedTech companies and declining investment in start?ups have shifted LRM's primary model from being a major manufacturer to being an Original Development Manufacturer for its existing customers.

Lake Region Medical is extending its global leadership in interventional guidewires and remains well positioned to provide essential R&D partnership opportunities with major Medical Device companies with the release of new guidewires for cardiovascular and peripheral procedures. Lake Region Medical's expanded product portfolio will be introduced at the 22nd annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, sponsored by the Cardiovascular Research Foundation , September 21-25, 2010, in Washington, D.C., at a time when the Medical Device (MD) industry is entering a period during which it must bear a significant tax load under the new U.S. Healthcare bill. The impacts will continue to be newsworthy. Under provisions of the Patient Protection And Affordable Care Act (PPACA), beginning in 2013, manufacturers, producers and importers of medical devices will pay a 2.3 percent excise tax on all sales, which according to one estimate will amount to some $4 billion annually while having "a significant dampening affect on funding available for future research and development," according to the Advanced Medical Technology Association.

Minimum of 3 years management experience in a manufacturing environment, or 5 plus years of lead or senior operator production experience in a Lean manufacturing environment. Exposure to Engineering, Quality Assurance, Production, Materials and Maintenance functions is desirable.

Lake Region Medical, Ltd., a subsidiary of the closely-held Lake Region Medical in Chaska, Minnesota, today announced that it has acquired Brivant Medical, based in Galway, Ireland. The acquisition was effective July 23, 2009. Terms were not disclosed. Both the American and Irish companies are global OEM leaders for medical device guidewires and related products for minimally-invasive cardiac surgery and other procedures. Lake Region Medical has been doing business in New Ross, Ireland, as Lake Region Medical Ltd., since 1994, while the U.S. parent company with more than 1,500 employees globally, has more than 50 years experience in the medical device arena. It was recently named one of the Top 10 medical device companies based in the Twin Cities by the Minneapolis- St. Paul Business Journal (July 3, 2009). Brivant Medical and Lake Region Medical Ltd., currently employ approximately 800 people at the two locations in Ireland. Spokespersons for both Brivant Medical and Lake Region Medical said the new acquisition will preserve — and ultimately expand — jobs at the company sites in Galway and New Ross, Ireland, and Chaska, Minnesota.

Minimum of 3-5 years well-rounded experience in a manufacturing environment working with small, high tolerance parts from a variety of materials in high volume. Medical device industry experience desirable.

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