Avid Medical Breaks Ground on Expansion

James City County, Virginia, and its Economic Development Authority are pleased to announce that AVID Medical, Inc., broke ground today on a $3.5 million expansion that will double its facility size and employment at Stonehouse Commerce Park. The company, formed in 1997, is adding 45,000 square feet of plant and warehouse space, and will grow its employee base by another 150 jobs over the next three years. The expansion is expected to be completed in the Spring of 2003. AVID packages, markets, and sells interventional and custom procedure trays which provide hospital and surgery centers with high quality, yet cost saving, alternatives to traditional products in the healthcare industry.

AVID Medical and James City County Economic Development Team members were joined by AVID employees to celebrate the ground breaking of AVID's $3.5 million expansion.


James Kennedy (center),Chairman of the James City County Board of Supervisors, presented a commemorative hardhat to Michael Sahady (left), Chairman/CEO of AVID Medical, Inc., at the ground breaking for AVID's $3.5 million, 45,000-square foot expansion, as Virginia Hartmann (right), Director of the James City County EDA, looked on.


Keith Taylor (center), James City County Director of Economic Development, joined Michael Sahady (left), Chairman/CEO of AVID Medical, Inc., and Rick Setian (right), President/COO of AVID Medical, Inc., at the ground breaking.

According to Michael Sahady, CEO and founder of AVID Medical, "The company is on track this year to reach its projected sales volume of $45 million, and we expect to do even more next year. With the phenomenal growth we have experienced since opening the Toano facility in 1999, it became obvious we were going to have to expand to keep up with customer demand. We have been so pleased with our location and employees here that we were committed to staying and expanding in James City County."

Sahady has a long history of success in the medical devices field. In 1976, he was the founder and Chief Executive Officer of MedSurg Industries based in Herndon, VA. Medsurg was acquired in 1994 by Isolyser, Inc. headquartered in Norcross, GA. Sahady subsequently became President of Isolyser Healthcare, Executive Vice President of Isolyser Corporation, and a member of Isolyser's Board of Directors. In September of this year, Rick Setian, Chief Operating Officer was promoted to the President of AVID Medical. Sahady now serves the role of Chairman and CEO; this is Sahady's third such venture in the healthcare products industry.

In remarks presented at the groundbreaking ceremony, Stonehouse Supervisor Jim Kennedy noted that, even with Sahady's extensive background in the medical kit industry, AVID is nevertheless a local start-up company success. "To have gone from opening this facility three and one-half years ago to selling $45 million in product today is remarkable for any company. This is the type of success story we are pleased to recognize and celebrate," he said. "Providing opportunity for local citizens to compete for full-time permanent jobs with benefits is certainly a big plus for our community."

Ginny Hartmann, an Economic Development Authority Director, agreed. "AVID has been able to make effective use of the EDA's Industrial Revenue Bond Financing Program for both its original plant and now its expansion. This is a great example of how, with the County's help, a company with a good business idea and experienced management can get established and do well, and everybody benefits."

Sahady credited James City County's economic development team for its proactive assistance during the company start-up and expansion. "James City County's economic development program is well organized and well integrated with the regional and state programs, and it shows," he said. "We are a highly professional company ourselves, and so are our customers. The County provides a good backdrop for both the image and emphasis on high quality products and service we want to convey."