Medtronic (NYSE:MDT) earlier this month reportedly filed for a building permit to begin the renovation project for its Memphis location.
The permit, filed on September 13 with a value of $5 million, will allow for office and workspace reconfigurations, new collaborative meeting spaces and upgraded audio/visual equipment, along with general cosmetic improvements, according to a report in the Memphis Business Journal.
Medtronic Spinal spokesman Victor Rocha told the Business Journal that construction is expected to begin in the next 60 days and be completed in early 2020.
Fridley, Minn.-based Medtronic opened the Memphis location in July 2018.
Shares of MDT were down -0.3% at $110.87 per share in mid-morning trading today.