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Home Industry News Boston Scientific puts warehouse on market

Boston Scientific puts warehouse on market

5th January 2009

Boston Scientific has started 2009 by looking for a buyer for some of its property in the US.

The space in Natick, Massachusetts, contains a 316,000 sq ft warehouse which is located near to the medical company’s headquarters.

But according to a real estate agent in the area, it has hardly been used and different developers have been viewing the site as a potential acquisition.

JR McDonald of Cushman & Wakefield told the Metro West Daily News: “I don’t think a warehouse is the best use of the property […] A few users might be interested.”

The news follows Boston Scientific’s announcement last October that its results for the third quarter of 2008 included a net loss of $62 million (42.57 million pounds).

Sales for the period totalled $1.978 billion, compared to $2.048 billion in the same period a year previously.

Despite these figures, one analyst, Leerink Swann & Co’s Rick Wise, told the Boston Globe that 2008 saw “substantial progress” for the company.

However, he added that similarly to others in the industry, Boston Scientific would probably tread carefully this year when it came to hiring new employees.

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