Cardiovascular Systems to Build New Headquarters

St. Paul, Minn.-based Cardiovascular Systems Inc. (CSI) is building a new corporate headquarters location in New Brighton, Minn., about 10 minutes from downtown Minneapolis. The 125,000-square-foot, two-story building will have space for more than 500 employees and contain dedicated research and development, training and education, and manufacturing facilities. CSI’s headquarters will be located in the New Brighton Exchange, a 100-acre parcel of land at the northwest corner of Interstates 35-W and 694. Construction will begin immediately.

“With the company’s strong revenue gains from the high growth of our peripheral business and recent FDA approval of our technology for a coronary application, we have outgrown our current facilities,” said President and CEO David L. Martin. “We’re fortunate to have found a location that allows us to remain in New Brighton—a community we’ve called home and supported since 2005—while continuing to expand and prosper as an organization.”

CSI recently reported financial results for its fiscal third quarter ended March 31, 2014. The company’s third-quarter revenues grew to $34.9 million, a 32 percent gain from the third quarter of fiscal 2013. In the first nine months of fiscal 2014, revenues increased to $97.0 million, up 29 percent from the fiscal 2013 nine-month period.

According to Martin, CSI will own its new headquarters and be the building’s only tenant. The company today has 191 employees in the Twin Cities and is targeting March 2015 for occupancy. In addition to its Minnesota operations, CSI has a manufacturing facility in Texas that currently employs 43 people.

“There are over 16 million people in the United States diagnosed with coronary artery disease and an estimated 12 million Americans suffer from peripheral artery disease,” added Martin. “Expanding our operations will enable CSI to help a growing number of people within these large and underserved patient populations.”