Abiomed (NSDQ:ABMD) is opening a new $17 million innovation center in Danvers, Mass., according to a new Salem News report.
The new 29,800 square-foot center will house research & development for the company, according to the report.
Five new laboratories will take up residence in the center, including blood and optical labs, software, mechanical and electrical labs, the Salem News reports. The facility will also include a production line and a number of administrative spaces
The new location will be near the Danvers-based company’s headquarters, where it employs approximately 580 individuals, according to the report.
Late last month, Abiomed saw shares fall despite the medical device maker posting earnings that beat expectations by Wall Street for its fiscal year 2019 first quarter and announcing approval of its Impella heart pump in India.
