After bankruptcy filing and sale, HemCon inks deal to move to downtown Portland

Medical products company HemCon, which rose to prominence on its shrimp-based bandages that help slow hemorrhaging, announced in September that it would be moving to Portland from Tigard, where it’s been located since 2003.

The company inked a deal this month for 7,483 square feet of space at 720 S.W. Washington St. and plans to move in early 2015. CEO Michael Wax answered a few questions about the move and what’s ahead for HemCon, which was sold to TriStar Wellness Solutions Inc. for $3 million in 2013 after a patent dispute sent the company into bankruptcy.

How many employees will be moving into the new space?

Twenty-six employees, but we have room for our national sales executives and international employees when in Portland, as well as scientific collaborators from all over the world.

Does the new space have the lab and other amenities that HemCon was looking for?

Yes and more. We have designed a custom Medical-Tech Innovation Center that will serve as a creative hub for new product development.

What brings the company to downtown Portland as opposed to somewhere else in the Metro region?

We are convinced that downtown Portland is one of the best places in the country to build a knowledge-based company and attract the top talent we require to play a leading role in the Portland medical-technology community. We are looking forward to further integrating with others in the area who share our interest in providing new solutions for unmet complex medical solutions.

Recently we were awarded two new grants in partnership with a major medical research institution and teaching center. Our desire is to be close to our partners and foster more partnerships in Portland.


Nov 24, 2014

Jon Bell
Staff Reporter
Portland Business Journal

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