The latest in the migration from the suburbs to Boston’s life science core, health tech giant Philips NV is moving its North American headquarters — and its 2,000 employees — from Andover to Cambridge.
The company has plans to move into a large development still under construction on the Cambridge-Somerville-Boston line called Cambridge Crossing, a 45-acre NorthPoint mega-project. The live-work development, when it’s all finished, will include 2.1 million square feet of tech, science, and office space in five buildings and as many as 2,400 condos and apartments.
Philips, which plans to move into the development by 2020, will keep about 300 ultrasound system manufacturing workers at its Andover site, The Boston Globe reports.
This move by Philips illustrates the pull Cambridge has for the life sciences industry, with companies like Shire and Alexion recently planning moves into the city from near and far. The secret has long been out on Cambridge and what the ecosystem has done for anchor tenants like Biogen. Over the past few years, Novartis, Pfizer, Sanofi, Eli Lilly and many more have migrated from far-flung R&D campuses in favor of rubbing elbows with the Kendall Square locals.
Image: The Cambridge Crossing development, a 45-acre project in East Cambridge formerly called NorthPoint. BLDUP
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 30,400+ biopharma pros who read Endpoints News by email every day.Free Subscription