Cogentix Medical (NSDQ:CGNT) said it plans to uproot a Massachusetts manufacturing facility and move it from Natick to nearby Westborough.
The Minnetonka, Minn.-based device company, newly re-branded after the merger of Vision-Sciences and Uroplasty, said it signed a 10½-year lease on a new, 24,400-square-foot facility in Westborough for its EndoSheath manufacturing operation. EndoSheath is a sterile, disposable protective barrier designed to work with its flexible endoscopes.
Cogentix said the lease, set to begin August 1, includes 6 months of free rent and some $610,000 worth of renovation expense reimbursement. The buildout could take 4 to 6 months, the company said.
Cogentix was formed after Minnesota’s Uroplasty and New York’s Vision-Sciences merged April 1, a day after shareholders approved the deal. The union was 1st announced last December.
Beyond EndoSheath, Cogentix’s products include the Urgent PC neuromodulation system, which is cleared to treat overactive bladder. Former Uroplasty CEO Rob Kill is head of the combined outfit.