ROCHESTER, Minn. — A new research and development lab opening in downtown Rochester is the culmination of the years-long collaboration between Mayo Clinic and medical device giant Boston Scientific.
The new joint venture business accelerator, called Motion Medical, is expected to open in the fall in about 1,800 square feet of space in the newly opened One Discovery Square complex. It is described as representing the joint commitment of "millions" in dollars by both Mayo Clinic and Boston Scientific.
This project combines Boston Scientific's engineering and business acumen with Mayo Clinic's medical expertise. While the two organizations have worked together on projects for years and have eight patents together, Motion Medical will serve a day-to-day base for those collaborations.
The new office will house both Mayo Clinic and Boston Scientific employees.
Mayo Clinic CEO Dr. Gianrico Farrugia told a crowd of supporters and reporters on Monday in the entryway of One Discovery Square how "absolutely thrilled" he is about Motion Medical and its goal "to address unmet medical needs."
"We expect many start-up companies to be born here," he said.
Boston Scientific's CEO Mike Mahoney also talked about the project in glowing terms on Monday.
"This is a just wonderful expansion of a great partnership that we have that we think will significantly impact patient care," he said.
Mahoney said he expects Motion Medical to be "very positive for the economy here."
Farrugia and Mahoney didn't provide many details about staffing at Motion Medical. Farrugia said there is "not a crystal clear playbook" for the project.
Andy Danielsen, chairman of Mayo Clinic Ventures, estimated that, depending on the day, Motion Medical could see three Boston Scientific employees and two Mayo Clinic staffers working in its offices.
Mayo Clinic Ventures, which commercializes Mayo Clinic research and “intellectual assets,” accounted for 5% of Mayo Clinic's net operating income of $706 million in 2018.
While technology is at the heart of most of the projects that will probably cycle through Motion Medical, Danielsen sees its most valuable asset as being the team that will be working there.
"It all comes down to people … and the free exchange of ideas," he said.
Motion Medical is the latest tenant to be announced for the One Discovery Square center, built by Twin Cities-based M.A. Mortenson Co. The complex is the first major project in the 16-block Destination Medical Center's Discovery Square sub-district described to be a “hub for bio-medicine, research and technology innovation."
Amsterdam-based Royal Philips recently confirmed plans to open an office in the building to collaborate with Mayo Clinic. Space on the first floor is committed to Epic Systems of Wisconsin.
While it hasn’t been officially announced, building permits also show a joint partnership between Mayo Clinic and a Chinese firm, WuXi Diagnostics, taking space on the third floor.
A local coffee shop, Café Steam @ Discovery Square, is setting up a location within One Discovery Square. The University of Minnesota Rochester has also signed up for two educational spaces in the complex.