Medical products developer HemCon is planning to relocate its headquarters from Tigard to downtown Portland as it begins outsourcing its manufacturing processes.
The company will move from its current headquarters at 10575 S.W. Cascade Ave., where it has operated since 2003, to an undisclosed new site (or sites) in downtown Portland.
In a statement, the company said it is “relocating to a human centered work environment designed to foster greater connectivity between all employees, customers and stakeholders.” The company added that it will steer resources toward marketing and sales, new product development and technology.
The company has arranged for all manufacturing to be outsourced to certified medical contractors in the United States. It will continue to sell its products through its existing distribution network.
In response to questions from Real Estate Inc., a spokesperson for the company said it is negotiating for three locations downtown and expects to have the deal finalized within the next few days. For the time being, the spokesperson declined to comment on the location of the new headquarters.
But the spokesperson said that all the locations the company is looking at are between 7,000 and 8,000 square feet. The company expects to move into the new location in January 2015.
HemCon, which is best known for its shrimp-skin bandages which are used to slow hemorrhaging on battlefields, was once one of the fastest-rising stars in Oregon business, with sales rising from $23.6 million in 2006 to $72.9 million in 2008.
But the Portland-area company lost a high-stakes patent battle in March 2012 and subsequently filed the year’s biggest corporate bankruptcy in Oregon. In May last year, it was acquired by Westport, Conn.-based TriStar Wellness Solutions Inc. for just $3 million.
Staff Reporter- Portland Business Journal