375 West Street - West Bridgewater, MA
STD Med the buyer, a Stoughton-based manufacturer of medical devices, has acquired the 32,000 s/f facility to augment its current footprint of 120,000 s/f. Privately held STD Med paid $1.35 million to buy the facility from SeraCare Life Sciences Inc, of Milford.
The buyer plans to use the facility to expand the company's cleanroom capacity to accommodate their growing base of business. STD Med anticipates increasing the current work force with close to 50 new jobs over the next three years as a result of this expansion.
Steven Tallarida, president STD Med, said, "we attribute this growth to the premise on which STD Med was founded 58 years ago by Primo Tallarida; hard work, the American Dream and luck sure doesn't hurt".
Additionally, the facility will house several innovative STD Med incubated start-up companies including Spirus Medical Inc, Cardiosolutions Inc, as well as a new venture capital firm Makaira Venture Partners.
STD Med plans on doing extensive renovations to the building and modifications to accommodate their needs.
Quinn of Quinn Associates represented the buyer and John Butterworth, senior vice president of CB Richard Ellis represented SeraCare Life Sciences Inc.
