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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

Medical Device Company Lazurite™ to Relocate its Headquarters to Accommodate Growth

December 16, 2021 GMT
Lazurite is relocating from its office in Cleveland to a new, larger space in suburban Warrensville Heights, Ohio, to advance the operations and growth of the company.
Lazurite is relocating from its office in Cleveland to a new, larger space in suburban Warrensville Heights, Ohio, to advance the operations and growth of the company.
Lazurite is relocating from its office in Cleveland to a new, larger space in suburban Warrensville Heights, Ohio, to advance the operations and growth of the company.

CLEVELAND--(BUSINESS WIRE)--Dec 16, 2021--

Medical device and technology company Lazurite Holdings LLC announced today the relocation and expansion of its headquarters from Cleveland to a new office space in suburban Warrensville Heights, Ohio, to advance the operations and growth of the company. The new office space is located at 4700 Richmond Road.

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Lazurite is relocating from its office in Cleveland to a new, larger space in suburban Warrensville Heights, Ohio, to advance the operations and growth of the company.

“We are thrilled to relocate our headquarters to Warrensville Heights as the area will provide the foundation for our continued growth initiatives going forward,” said Leah Brownlee, President. “We selected Warrensville Heights because of its attractive economic development incentive program, convenient location, and because the space already had the electronic labs set up that we require, not to mention it lives up to being a ‘Friendly City.’”

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Raymon Turner, Community Development Manager for the city stated, “We are extremely pleased to welcome Lazurite Holdings LLC to our city. They are on the cutting edge of medical technology with the creation of their fully wireless, minimally invasive camera system platform. With our close proximity to both University Hospitals and the Cleveland Clinic we see this as a wonderful opportunity to bolster the medical research and training happening right now in our community.”

Expanding to 6,000 square feet from its current 3,000 square feet will provide the necessary infrastructure for the company to continue to build on its current momentum. Lazurite currently employs 15 people and plans to onboard at least 10 employees in 2022 primarily in research and development and sales roles.

Earlier this year, Lazurite’s ArthroFree™ Wireless Surgical Camera won the prestigious inaugural ACE Award for Innovation from the American Orthopaedic Society for Sports Medicine. The company is taking steady steps on its plan to launch its ArthroFree wireless arthroscopic camera system next year. Lazurite plans to submit its premarket notification this year and expects to receive FDA approval to launch in the first half of 2022.

The ArthroFree™ wireless arthroscopic camera system has not yet received FDA clearance and is not currently approved for human use. It is not intended for commercial distribution; orders cannot be accepted at this time.

About Lazurite

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Lazurite ( formerly Indago ) is a pre-revenue medical device startup company backed by private capital. The company has raised more than $18 million to date from institutional investors, family offices, and more than 50 physician champions. Founded in Cleveland in 2015, Lazurite has developed novel technology that will enable it to create the operating room of the future. The company’s product pipeline features the modular ArthroFree™ wireless camera system, which is expected to be the first FDA-approved fully wireless minimally invasive camera system platform designed for the operating room, and other innovative new products based on the company’s novel and patented Meridiem™ light engine technology. Lazurite’s technologies are protected by a comprehensive intellectual property portfolio encompassing our ArthroFree wireless surgical camera system and our novel Meridiem™ light source as well as other products currently in development. For more information, see: https://lazurite.co.

Forward Looking Statements

This press release includes “forward-looking statements.” Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will,” “designed,” “milestone,” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our regulatory submission timeline for ArthroFree™. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Lazurite™, ArthroFree™, and Meridiem™ are trademarks of Lazurite Holdings LLC.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211216005675/en/

CONTACT: Pat Gallagher

Patrick Gallagher PR & Marketing Communications

pat@PatGallagherPR.com

+1 (216) 233-7473Lazurite:

+1 (216) 334-3127

contact@lazurite.co

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: HARDWARE MANUFACTURING TECHNOLOGY AUDIO/VIDEO SURGERY PROFESSIONAL SERVICES MEDICAL DEVICES HOSPITALS VENTURE CAPITAL OTHER TECHNOLOGY SCIENCE OTHER SCIENCE HEALTH MOBILE/WIRELESS ENGINEERING

SOURCE: Lazurite Holdings LLC

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PUB: 12/16/2021 12:00 PM/DISC: 12/16/2021 12:01 PM

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