A major health care and security technology company that’s been headquartered in Peabody, Mass., for almost 50 years is pulling up stakes and moving to Salem, N.H., bringing with it 500 jobs.
Analogic Corp. is moving to 9 Northeastern Boulevard in Salem, needing more room for its research and manufacturing operations.
The company has 515,000 square feet at its current location in the Centennial Industrial Park in Peabody. The Salem site has about 200,000 square feet, less of an overall footprint but double the research/manufacturing space it needed.
The company had difficulty finding the appropriate side-by-side research space in the Bay State, according to the Boston Business Journal.
“We’re growing like gangbusters. It’s hard to find space,” Chief Financial Officer Will Rousmaniere told the Journal. “We finally found space, at a distance that doesn’t have a great impact on our employees, which is important for us.”
GPS data shows a distance of 32 miles from the Peabody plant to the new Salem location.
Analogic, which is privately held, is a leading custom designer, manufacturer, and seller of sophisticated precision instruments for data acquisition conversion and signal processing.
Its work covers a broad range of technologies, from digital mammography (DM), and magnetic resonance imaging (MRI) to threat detection systems for airport screening, such as baggage scanners. and motion controls.
In 2022, the Transportation Security Administration at Manchester-Boston Regional Airport announced the installation of five mid-size CT X-ray units that provide critical explosives detection capabilities in each checkpoint lane. The units are manufactured by Analogic Corp., which plans to move its headquarters from Peabody, Mass., to Salem, N.H. (Photo courtesy TSA)
Analogic has been in a bit of a holding pattern for a few years as it looked for a new home.
Originally, when it announced its intentions to find a new home, Amazon was primed in 2021 to buy it and use the space as a warehousing operation.
When that deal fell through in 2022, real estate investor and developer Tishman Speyer and a Japanese partner acquired the Analogic property in May 2024 for $77 million, with plans to redevelop the site into an industrial park.
Analogic has remained in the facility in a leaseback agreement, pending the completion of the move to Salem, which people associated with the transaction said should take up to a year to even begin.
The company had been on the lookout for a new facility since it sold its Centennial Drive headquarters to real estate developer Tishman Speyer and a Japanese partner in May for $77 million.
Tishman and its partner, Mitsui Fudosan America Inc., intend to turn the 60-acre property from Analogic into a new development, with four warehouses totaling about 700,000 square feet.
The company was founded in Wakefield, Mass., in 1964 by Bernie Gordon, originally known as Gordon Engineering. He is considered “the father of high-speed analog-to-digital conversion”. His 200-plus patents worldwide include the fetal monitor, the high-speed analog-to-digital converter, the instant imaging computer-aided tomography (CAT) scanner, Doppler radar, and an advanced bomb-detection device.
It became Analogic in 1969, establishing a future path of technology innovations as an OEM (original equipment manufacturer) for other companies, particularly in the medical equipment industry. The company built its new headquarters in Peabody in the early 1980s as one of the first tenants of the city’s new Centennial Industrial Park.
In 2009, he stepped down from the company’s board of directors.
In 2018, Altaris Capital Partners, LLC, a private investment firm, acquired the company for about $1.1 billion, $84 per share in cash.
“We are excited about the opportunities that lie ahead for Analogic as the company redoubles its efforts to drive continued technological innovation and outstanding service for its customers,” Altaris co-founder and managing director George Aitken-Davies said at the time of the acquisition
Editor’s Note: This story will be updated as new information becomes available.
