March 10, 2017
By Alex Keown, BioSpace.com Breaking News Staff
VALENCIA, Calif. – Marlborough, Mass.-based Boston Scientific Corporation has extended its lease for a space in Valencia, Calif. for 10 years, The Signal of Santa Clarita Valley reported this morning.
Valencia is home to Boston Scientific’s Neuromodulation Group, which focuses on microelectronic implantable technology for chronic pain or neurological diseases. The company will continue to lease two buildings, a 180,000 square-foot office and engineering facility and a 161,000 square-foot office, training and warehouse facility. With a long-term commitment to Southern California, Boston Scientific has plans to add more employees, CBRE Group Inc., who negotiated the deal on behalf of Boston Scientific, told the San Fernando Valley Business Journal. How many employees the company could hire and one what time table were not reported.
Boston Scientific has been operating out of the Valencia site for nine years.
The company has seen strong headcount growth over the past few years in large part due to a suspension of a medical device tax. Boston Scientific ended 2016 with about 27,000 employees, about half of them employed outside of the United States.
In June 2016, Boston Scientific announced plans to undergo a corporate restructuring expected to reduce operating expenses by up to $150 million by 2020, as well as support long-term growth and innovation. The restructuring plan is focused on developing global commercialization, technology and manufacturing capabilities in key growth markets, continuing implementation of the company’s plant network optimization strategy and expanding operational efficiencies in support of the company’s operating income margin goals, the company said in its announcement.
Earlier this month, Boston Scientific received a favorable ruling in a patent case in Germany. The German District Court of Düsseldorf has determined that Edwards Lifesciences Corporation and its German subsidiary’s Sapien 3 device infringed two patents of Boston Scientific related to the seals for transcatheter heart valves. The German District Court of Düsseldorf determined that Edwards Lifesciences Corporation and its German subsidiary’s Sapien 3 device infringed two patents of Boston Scientific Scimed, Inc. related to the seals for transcatheter heart valves, according to company information.
In 2016, Boston Scientific saw several regulatory wins, including the launch of the Precision Montage MRI Spinal Cord Stimulator (SCS) System after the U.S. Food and Drug Administration granted regulatory approval in May. Also in May, the FDA granted approval for two catheters that can be used with the Rhythmia Mapping System. The IntellaNav XP and the IntellaNav MiFi XP navigation-enabled ablation catheters designed to map and ablate were approved to treat Type I atrial flutter, an abnormal rhythm of the upper chambers of the heart. In April, Boston Scientific snagged FDA approval for a suite of products deemed safe for use in MRI environments, including two new pacemakers and a pacing leads system.
