A Medical Device Daily

Medtronic Spinal and Biologics (Memphis), a business unit of Medtronic (Minneapolis), reported purchasing 35 acres near Memphis International Airport from Airport Logistics for $11.4 million where it will renovate and expand its distribution and related services.

Medtronic had been leasing part of the property.

The company said that over the next 19 months it will renovate and expand the existing 210,000-square-foot facility, more than doubling its size, with the added space serving a growing distribution operation and provide a new home for the customer service center, plus administrative functions.

The building now runs three shifts, processing surgical kits and implants — almost 2,000 orders each day — for orthopedic surgeons and neurosurgeons.

"This real estate purchase continues Medtronic's commitment to remain a valuable player in the Memphis economy," company spokesman Bert Kelly said. "Currently, the company's previously announced expansion is in full swing. The shell of the parking complex is complete; the steel frame of the new 180,000 square foot executive administration building is visible with a targeted completion date of early 2008."