posted on April 15, 2011 01:44
Austin-based surgical products developer ArthroCare Corp. has leased 136,075 square feet in South Austin, according to a regulatory filing on Wednesday.
The company (Nasdaq: ARTC), founded in 1993, signed the 10-year agreement with CarrAmerica Lantana LP for space at 7000 W. William Cannon Drive. ArthroCare will use the added space — about triple its current size — to consolidate some operations from California, the U.S. Securities and Exchange Commission filing said.
The move comes as the company climbs back from a lawsuit, investigation and leadership shuffle that pummeled its share value during the last three years. ArthroCare netted a $37.1 million profit last year after snagging a $75 million equity investment to help pay off debt. In February, the company ended the three-year U.S. Securities and Exchange Commission investigation into financial practices.
ArthroCare employed 1,363 workers as of last January.
4/7/11, Austin Business Journal