Siemens broke ground on its $300 million Healthineers medical office project in the Greater Boston submarket of Walpole, Mass.
Siemens Healthineers, the separately managed healthcare business of Siemens AG, is a leader in medical technology and is always looking to innovate its portfolio. The project, which broke ground on June 30th is an expansion of the company’s existing 500,000-square-foot facility. Siemens’ contribution to the Walpole, Mass., medical office market is estimated to be a $300 million investment, over the next four years.
Siemens facility at 333 Coney St (Google Earth Imagery)
The company expects this new laboratory diagnostics manufacturing and research and development facility to bring in as much as 700 new high-tech permanent jobs, in addition to the 700+ that the current facility at 333 Coney Street accommodates. The expansion will include manufacturing, warehouse, office and lab space.
Siemens Healthcare GmbH Supervisory Board Chairman Michael Sen stated that the company currently provides 10 billion laboratory diagnostics tests per year and added: “Our mission is to extend this reach even further and Walpole will play a major role in this effort. That’s why we’re investing 300 million dollars here—one of the largest single capital investments of Siemens Healthcare in the U.S. ever.”
The Walpole expansion project is part of Siemens’ commitment to strengthen the advanced manufacturing sector in the U.S., which is the company’s largest market and where it invests $1 billion annually in research and development.
Massachusetts Governor Charlie Baker also stated: “Our administration has reinforced our commitment to life sciences, research and development by investing up to $500 million for strategic investments to support companies in innovation and technology. Thanks to companies like Siemens, Massachusetts continues to be a global leader in the industry and we welcome their growth and investment in Walpole to support the global healthcare market.”
Siemens Healthineers future facility (rendering, courtesy of Siemens)
Ioana Ginsac
Senior Content Writer, Industry News & Reports
Ioana is a content writer who has been covering all-things-CRE (and more) for several Yardi network publications since 2017. You will find her byline regularly in industry news and market reports, but also on articles covering sustainable development, green urbanism, and innovation, all of which she has been passionately learning about for more than a decade. Her work has been referenced by publications including AmericanInno, Bisnow, BusinessInsider, Commercial Property Executive, Curbed, Fast Company, Forbes, GlobeSt.
