Boston Scientific: A New Chapter in Valencia
Boston Scientific is making a strategic move. The company's neuromodulation division, currently based in Valencia, is relocating to a new nearby location. This shift marks a significant change in the company's presence in the area.
New Location Details
The new office will be housed in the former headquarters of Scorpion, a marketing firm. The building is smaller than their current space in the Santa Clarita biomedical park. Jeff Trauring, Boston Scientific's communications director, confirmed the move, stating that the new location better suits their needs. The company has signed a 10-year lease and plans to move in phases, beginning later this year.
Background on Boston Scientific's Presence in Valencia
In 2017, Boston Scientific leased a large space in the Southern California Innovation Park (formerly known as Mann Biomedical Park). The company's Neuromodulation Group operates here, focusing on advanced technology for chronic pain and neurological diseases.
Ownership Changes and Impact
The move follows changes in ownership. In 2021, Cantor Fitzgerald, the company's landlord, acquired Boston Scientific's Valencia headquarters. The deal included a significant portion of the space but not all of it.
The former Scorpion headquarters is a four-story office building built in 2017. It originally housed about 400 employees, but Scorpion moved its headquarters to Salt Lake City in 2021, leaving only a fraction of employees in the area.
Economic Development and Market Performance
The Santa Clarita Valley Economic Development Corporation (SCV EDC) is aware of the situation but could not comment on ongoing projects. They mentioned working closely with Boston Scientific and local authorities.
Boston Scientific's share price has seen a significant increase over the past few years, reflecting the company's strong market performance. The company plans to sublease the current space, but details on new tenants remain scarce.
Transition Timeline
The move is expected to take place in phases, starting in late 2026. This timeline suggests the company will occupy the new space for most of the remaining lease period. The exact details of the transition remain unclear.
