The former Philips Oral Care building in the Snoqualmie Ridge Business Park will soon have a new owner and tenant, Spacelabs Healthcare.
According to the Puget Sound Business Journal, the 176,000 square foot industrial building sold on Thursday for $13.9million. The Journal said the seller originally paid $26.9 million for the building in 2007.
Philips Oral Care was the first building constructed in the Ridge Business Park. In 1999, Optiva built it as the headquarters for their growing electronic toothbrush business, Sonicare. In 2000 Philips bought Optiva and the building became the headquarters for Phillips Oral Healthcare.
In early 2009, Philips announced it would move the manufacturing portion of the business to China in order to stay competitive. They then later moved remaining employees to its consolidated headquarters in Bothell.
The building will serve as Spacelabs Healthcare’s new headquarters, as well as space for light manufacturing, distribution and design work, according to the Puget Sound Business Journal.
Spacelabs (owned by OSI Systems) is a maker of medical patient monitoring and anesthesia delivery devices, as well as a cardiology information management system.
Spacelabs is currently headquartered in Issaquah off SE 56th Street and East Lake Sammamish Parkway. It will sub-lease its current building when it relocates to Snoqualmie.