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Vasomedical relocates headquarters to Plainview

Vasomedical Inc. moved its headquarters to this facility

Vasomedical Inc. moved its headquarters to this facility at 137 Commercial St. in Plainview on Monday, Sept. 28, 2015. Credit: Howard Schnapp

Vasomedical Inc., a maker and distributor of medical devices, this week moved its headquarters from Westbury to an 8,600-square-foot facility in Plainview, the company said.

About 25 of the company's approximately 290 employees were moved to the new facility at 137 Commercial St. on Monday, said Amanda Jiang, Vasomedical investor relations coordinator. The remainder of the workforce is located in China, home of the Vasomedical Global subsidiary, and at sites around the country, she said.

The company makes Enhanced External Counterpulsation systems for cardiac patients. The systems, which use pneumatic cuffs on the legs that inflate and deflate in time with cardiac rhythm, are designed to increase blood flow and reduce the heart's workload.

Jiang said much of the assembly for the systems is done in Plainview, though some manufacturing work is being shifted to China.

Vasomedical also distributes GE Healthcare diagnostic imaging products and provides health care IT services through its NetWolves Network Services subsidiary, acquired in May for $18 million in cash. Following that deal, Vasomedical chief executive Jun Ma said NetWolves would accelerate the company's entry into "telemedicine and connected health care markets."

For the quarter ended June 30, Vasomedical posted net income of $191,000 on revenue of $10.8 million. Shares of Vasomedical rose 2 cents to close at 17.8 cents in trading Tuesday on OTC Markets.

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