A Florida medical devices manufacturer has purchased a Vandalia building and land for $5 million for nerve graft work.
AxoGen Inc. of Alachua, Fla. bought the 2,400-square-foot building at 913 Industrial Park for $5 million, Montgomery County property records show. “ARC CRVANOH001 LLC” is identified as the seller in the sale recorded Aug. 3.
The site in the Scholz Industrial Park had been a property of the former Crown Solutions, now called Veolia Water, which has its main local offices at 945 Brown School Road, also in Vandalia.
Just over eight acres of land was also part of the purchase.
“The company completed the acquisition of a facility near our current leased facility in Dayton, Ohio, where we will transition our existing processing to support our long-term capacity needs,” AxoGen Inc. said in a release earlier this month.
The company has had a presence in Dayton for about three years, working in the Community Blood Center in downtown Dayton, where AxoGen employees lease space, said Diane Wilson, the center’s chief operating officer.
AxoGen is using the same architect for its Vandalia building that the Tissue Services Center has hired for its own expansion in Kettering, Tom Hesse, of John Poe Architects in Dayton.
“They’re growing by leaps and bounds,” Wilson said of AxoGen.
AxoGen reported second quarter 2018 revenue of $20.6 million, up 36 percent compared to $15.2 million in the second quarter of 2017.
Messages seeking comment were sent to AxoGen representatives Tuesday.
In an Aug. 1 filing with the U.S. Securities and Exchange Commission, the company noted that the Vandalia site is close to its leased operation in Dayton, where it processes nerve grafts and soft tissue membranes.
The Vandalia purchase is "comprised of a 70,000-square-foot building on approximately 8.6 acres of land," AxoGen said in the SEC filing. "It is expected that renovations will be completed within 24 months of the closing to provide a new processing facility that can be included in the company’s biologics license application for the Avance nerve graft."
The company added: "The capacity of the property once operational, along with the ability for expansion, is expected to provide processing capabilities that will meet the company’s intended sales growth."
The company describes itself as being a “global leader in developing and marketing innovative surgical solutions for peripheral nerves.”
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