The building is twice the size of company's headquarters building in Eden Prairie and comes with 27 acres, and had offered ample room for expansion. But the company, which had expected rapid expansion from its coating technology used by Johnson & Johnson on its drug-coated stents, has not seen the growth it once had anticipated. One reason is that another player, Boston Scientific, recently began selling its version of the stent, and has made deep cuts into Johnson & Johnson's share.
The company will keep its 64,000-sf building in the Golden Triangle area of Eden Prairie. SurModics expects to shift most of its 22 employees at the facility to its headquarters facility.
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