Philips to move 1,250 employees to new Bakery Square space
Philips Sleep and Respiratory Care is moving 1,250 regional employees to what will be a 200,000-square-foot space in Bakery Square, the company announced Thursday.
The company, which employs 1,700 people in the area, will move to the new space all but its manufacturing, distribution and service employees, who are located in Murrysville, New Kensington and Mt. Pleasant.
Philips makes continuous positive airway pressure, or CPAP, equipment used in treatment of sleep apnea, a condition that causes people to temporarily stop breathing during sleep. Its product lines include ventilators, diagnostic and oxygen equipment.
The company moved 125 employees to Oakland's Schenley Place last year.
“Philips has been actively seeking to strategically locate its associates in Western Pennsylvania closer to universities, medical centers, research partners and other innovation leaders within the greater-Pittsburgh region, creating opportunity to leverage the energy and growth of the Pittsburgh Innovation District,” said a news release on the relocation.
The company reached an agreement with Walnut Capital Partners for the yet-to-be-developed space in Bakery Square. Philips will occupy several floors in a nine-story building planned for the development.
Walnut Capital President Todd Reidbord called the announcement the “final piece of the puzzle” for the Bakery Square development.
“We're more energized than ever to make strategic investments in the East End and Oakland innovation corridors that attract national and international tenants,” Reidbord said in a statement.
Wes Venteicher is a Tribune-Review staff writer.
