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By: Jared Whitlock
Ra Medical Systems has outgrown its digs once again.
Next month, the Carlsbad medical device company is moving to a bigger space to meet increased demand, the fifth time it has done so since forming in 2002. Its new headquarters — down the street from its current spot — will house R&D, production, sales, marketing and administrative functions in a 32,000-square-foot building.
Ra Medical makes excimer lasers and catheters to treat people with cardiovascular and dermatological diseases. Its current campus-style office is about 22,000 square feet.
“We are vertically integrated. We actually make the catheters in our controlled environment, as well as the lasers themselves. For a medical device company — especially on the cutting-edge — it’s very important for us to keep control of our operations from a quality standpoint,” said CEO Dean Irwin.
Triggering the expansion is breakneck growth. That’s largely due to Ra Medical receiving clearance from the FDA to sell its DABRA system, a laser catheter to treat a condition called peripheral artery disease, or PAD, the leading cause of amputations. The company has been working on DABRA for around a decade.
Once the technology hits the market, Ra Medical estimates its 2016 revenue of $100 million could increase nine-fold.
The company has about 50 employees and in the next year or so plans to hire an additional 25 to 50 positions to keep up with demand, including manufacturing positions on account of an expected doubling in production. And, Ra Medical is gearing up for an initial public offering in 2018.
Besides growth, Irwin said Ra Medical wanted to put all employees under one roof. The company found its current office of campus-style buildings could be isolating.
“We quickly learned that isolation is counterproductive. So we decided to put everyone under one roof,” he said.
A big reason Carlsbad remains the company’s home: The city is commuting distance for residents of North County, the city of San Diego, Orange County and even Riverside.
“That allows us to attract top talent from across the region,” Irwin said.
Ra Medical’s new headquarters isn’t the only piece of company real estate news. It also plans to open a small office in Germany next year.