Canon Healthcare investing $34M to open new US headquarters, imaging resource center
Imaging industry giant Canon Healthcare is investing nearly $34 million to open a new headquarters in Cleveland, the company said Monday.
The price tag includes acquiring an established building adjacent to the Cleveland Clinic’s main campus, where Cannon will launch a “comprehensive” imaging resource center. It’s part of a more than $500 million public-private partnership to establish the Cleveland Innovation District.
“Bringing together our collective strengths enables us to accelerate pioneering developments in medical imaging and quickly bring these new advances to patients,” Serpil Erzurum, MD, Cleveland Clinic’s chief academic and research officer, said in a statement shared Feb. 24.
Canon will invest about $33.65 million to buy and retrofit the building, NEOtrans reported earlier this month. It plans to create about 50 new full-time jobs with an average salary of $150,000 and annual payroll of $7.5 million, according to the city’s department of economic development. The vacant, 43,000-square-foot property in Cleveland’s Fairfax neighborhood was formerly occupied by IBM Explorys, with Canon collecting tax credit assistance as part of the deal. The Cleveland City Council recently approved a five-year, 50% payroll tax credit on the 2.5% income tax withheld by Canon, according to NEOtrans.
The company plans to install multiple imaging systems at the site as part of its partnership with the Cleveland Clinic. They’ll work to develop new technology with the goal of improving patient outcomes. Canon plans to employ a cross-institutional team of clinician-scientists and engineers working to develop new systems across MRI, CT, nuclear medicine, ultrasound and X-ray. Collaborative projects are slated to focus on cardiology, neurology and musculoskeletal care, with major components including preclinical assessment, human imaging and technological innovation. Other Canon entities also will operate at the site, which will act as a hub for developing further collaborations, those involved noted.
Cleveland Clinic and Canon first announced their strategic research partnership in November 2023.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.