Rancho Santa Margarita-based Applied Medical Resources Corp., the county’s fourth-largest medical device maker by workers, is undertaking a big expansion.
A $45 million building and land deal in Irvine stands to more than double the local operations of Applied Medical, which makes heart, vascular and less invasive surgery products.
The company is buying a 244,000-square-foot industrial building and a 27,000-square-foot office building in the Irvine Spectrum, according to brokers involved in the deal.
Also included in the deal is 6.5 acres of empty land next to the two buildings. Applied Medical plans to build a third office or research and development building up to 125,000 square feet.
The industrial building also could be redeveloped to include research or office space, according to Tim Joyce, a broker with the Newport Beach-based office of Grubb & Ellis Co.
Applied Medical plans to keep its headquarters in Rancho Santa Margarita and use the Irvine buildings as a second campus, spokeswoman Mary Jo Stegwell said.
The company has about 250,000 square feet of space at four buildings in Rancho Santa Margarita.
Applied Medical is Rancho Santa Margarita’s largest employer with more than 760 local workers. The company employs nearly 1,000 people in all.
About half of those jobs have been added in the past 30 months as the company’s sales have jumped.
Sales for the 12 months through June were $103 million, up 40% from a year earlier.
For more on this story, see the Sept. 18 edition of the Business Journal.
