Abiomed buys Danvers, Mass HQ for $16.5m

Abiomed (NSDQ:ABMD) said last week it agreed to purchase its headquarters space in Danvers, Mass. from the Thibeault Nominee Trust for $16.5 million.

The real estate at 18-22 Cherry Hill Drive consists of 12 acres, the company said in an SEC filing.

Abiomed has deposited $100,000 into escrow for the pending transaction, and said it expects to close the deal in January 2016, according to the SEC filing.

This summer, the company seemed to be on the prowl for more space. In June, Abiomed broke ground on an expansion of its headquarters, saying it plans to add 100 new jobs over the next 2 years as it more than doubles its footprint in Danvers.

The expansion, driven by a pair of recent regulatory wins, is slated to add 85,000 square feet to Abiomed’s operation on Boston’s North Shore, which employs about 600 workers.

Recent months haven’t been as kind to Abiomed, which saw shares drop nearly 29% in late October despite fiscal 2nd-quarter results that beat expectations on the back of a 47.5% top-line gain.

The Danvers, Mass.-based heart pump maker posted profits of $7.7 million, or 17¢ per share, on sales of $76.4 million, for profit growth of 101.5% compared with the same period last year.

The consensus outlook on Wall Street was for earnings of 16¢ on sales of $74.6 million. Abiomed raised its outlook for the rest of fiscal 2016, saying it now expects operating margins of 15% to 17%, up from prior guidance for 14% to 16%. Full-year sales are expected to be between $305 million and $315 million, up from $300 million to $310 million.

BShares of ABMD closed up today 2.5% at $86.54.

The post Abiomed buys Danvers, Mass HQ for $16.5m appeared first on MassDevice.

from MassDevice http://ift.tt/1QNH6Hl