|
Cranbury, NJ -
May 28, 2002 - MedPointe Inc. announced today it has relocated
its corporate headquarters from Half Acre Road in Cranbury,
NJ to a new location in Somerset (Somerset County, Franklin
Township), NJ, some 22 miles away.
This relocation
has enabled MedPointe to modernize its offices and consolidate
all of its corporate staff and Wallace Pharmaceuticals personnel,
excluding field sales and manufacturing, in an attractive,
newly renovated 70,000 square foot site. The Company's Wampole
diagnostics division will be announcing relocation to a Mercer
County, NJ location in the near future. Working with an investor
group, MedPointe Inc. acquired Carter-Wallace, Inc. and its
two principal Healthcare Businesses, Wallace Pharmaceuticals,
a prescription pharmaceuticals division, and Wampole Laboratories,
its medical diagnostics division, in a transaction announced
on October 1, 2001.
The new site, located
at 265 Davidson Avenue, will provide office space for 235
personnel as well as house the Company's sales training facilities. "The
successful completion of this first phase of our relocation
plan concludes nearly eight months of hard work by our management
team. On a very cost-efficient basis, we believe we have
been able to lease space in a highly attractive facility
which will provide expansion flexibility and contemporary
workspaces for our Company." said Anthony H. Wild, Ph.D.,
MedPointe Inc.'s Chairman and CEO. "The new site will
provide for closer working proximity of our colleagues who
are spread across the Carter-Wallace campus in Cranbury.
In addition, we will be moving to Central New Jersey, the
heartland of the pharmaceutical industry, while remaining
close enough to our existing site to minimize the disruption
to our colleagues." The Company had originally planned
to relocate to a site in Bridgewater, NJ, but ultimately
opted for Somerset due to superior economics and higher proximity
to its existing site in Cranbury.
According to Franklin
Township Mayor Shirley Eberle, "we are delighted about
the announcement that another pharmaceutical company is locating
in our municipality. Franklin is working hard to attract
and assist businesses like MedPointe to prosper and grow
with the support of local government.
Working with the
architectural design firm of Gaudreau & Associates, MedPointe
has designed the space to incorporate some of the latest,
most modern design features, including team neighborhoods,
flex conferencing, and enhanced security.
The building to
which MedPointe will relocate is owned by Koll Bren Shreiber
Realty Advisors of Boston, Massachusetts. MedPointe was represented
in the leasing negotiations by Grubb & Ellis, Edison,
NJ.
MedPointe Inc. is
a privately held company located at 265 Davidson Avenue,
Suite 300, Somerset, New Jersey, 08875-6833; 732-564-2200.
Its prescription pharmaceutical products division, Wallace
Pharmaceuticals, specializes in respiratory, cough/cold,
pediatric and central nervous system therapies and maintains
manufacturing facilities in Cranbury, New Jersey and Decatur,
Illinois. Wampole Laboratories, MedPointe's diagnostics division,
distributes a wide range of immunoassay-based diagnostic
tests for use by hospitals, physicians and reference laboratories.
For more information on MedPointe, Wallace Pharmaceuticals
or Wampole Laboratories, visit www.medpointeinc.com.
|
