Cochlear puts new $128M ear to the ground at Macquarie University
Wednesday 22 July 2009
Cochlear Limited (COH.AX) today officially turned the sod at the site of its new $128m Global Headquarters and manufacturing and research facility on the Macquarie University Campus, North Ryde, Sydney.
The new Cochlear facility will open at the end of 2010. Importantly it will form part of a world-first hearing research, treatment and development precinct which will link over 2,000 professionals involved in the hearing industry across academia, government as well as rehabilitation and research.
Said Cochlear CEO, Dr Chris Roberts: "Our new facility underpins our commitment to continue investing in Australian-based research, development and manufacturing and it will play a key role in our long-term growth plans.
"Importantly our purpose-built, new world-class manufacturing facility will form part of the world's first hearing precinct, where business, academia, the medical fraternity as well as research and development will come together in a truly collaborative partnership.
"First and foremost, Cochlear is a knowledge-based industry and it is fitting that we are relocating to the Macquarie campus where we can work and grow in a world-class environment."
Said Macquarie University Vice-Chancellor, Professor Steven Schwartz: "Macquarie's existing research and teaching expertise in audiology, computing, electrical engineering and cognitive science will benefit immensely from this new proximity to the global leader in hearing implant devices.
"True collaborations of this kind between academia and industry, that deliver real benefit to the community, were part of the unique role for Macquarie envisaged by the NSW Government when it established the University almost 50 years ago."
Macquarie University will also complete in 2010, the construction of a private hospital which will include hearing implant facilities to perform cochlear implant surgery.
Watpac Limited has been awarded the construction of Cochlear's 24,000m2 facility with Peloton Development Management Pty Ltd project managing construction.
The agreement with Macquarie University sees Cochlear leasing the building from Macquarie for an initial term of 15 years with options to extend this for a further 10 and five year term. Macquarie has also reserved adjacent land for future expansion by Cochlear.
ends
Contact: Chris Roberts
CEO Cochlear
02 9428 6360
Professor Steven Schwartz
Vice-Chancellor, Macquarie University
02 9850 7456 (Greg Welsh, Media Manager)