Rock Health, Leading Digital Health Pioneer, Selects Alexandria Real Estate Equities, Inc. and Mission Bay for Global Headquarters Rock Health's new location, immediately proximate to UCSF, further positions Mission Bay at epicenter of digital health revolution
PASADENA, Calif., June 5, 2013 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the leading and largest owner, operator, and developer of high-quality, sustainable real estate for the broad and diverse life science industry, is honored to announce that Rock Health, the first and premier digital health accelerator, will base its global headquarters in Alexandria's Mission Bay cluster in San Francisco. Rock Health will be located at Alexandria's 455 Mission Bay Boulevard South, immediately adjacent to UC San Francisco's (UCSF) Mission Bay campus. There, Rock Health will establish a highly collaborative, creative space designed to bring together Rock Health's unparalleled network of entrepreneurs, engineers, clinical healthcare professionals, investors, and partners, who are working together to make meaningful change in health through scalable and innovative technology. On the heels of UCSF's May announcement of the creation of a Center for Digital Health Innovation, Rock Health's decision reaffirms Mission Bay as the epicenter of the digital health revolution, which is poised to have a groundbreaking impact on the life science and healthcare industries by improving quality of care and lowering costs. Additionally, with the announcement that Rock Health has decided to locate in Mission Bay, this world-class life science ecosystem will become an even stronger magnet for commercial entities looking to access its unparalleled scientific talent and breakthrough innovations.
"Rock Health is committed to engaging with the brightest minds in healthcare to further innovation. Our choice of Mission Bay and new partnership with Alexandria reaffirms this commitment, and will enable us to support not just our portfolio companies but also the broader startup ecosystem," said Rock Health Founder and Chief Executive Officer, Halle Tecco. "This move will enhance our ability to collaborate with groundbreaking researchers, clinicians, and corporate partners in our industry."
"Rock Health's move to Mission Bay comes at a critical time as San Francisco implements national healthcare reform and is striving to give residents more choices for healthier lifestyles," said San Francisco Mayor Ed Lee. "We are partnering with innovative companies such as Rock Health to disrupt the way we do business and, at the same time, improve the healthcare industry. Rock Health's new proximity to UCSF doctors, entrepreneurs, and scientists at our small startups, pharmaceutical companies, and investors will accelerate advances in the life science, healthcare and technology industries here in San Francisco."
Founded in 2010, Rock Health supports digital health entrepreneurs through a startup accelerator, public events, and open-source research. Driven by an innovative and entrepreneurial culture, Rock Health's accelerator program provides promising health startups with strategic and operational support, mentorship, office space, an elective $100,000 convertible note from the Rock Health Fund, and access to a top-tier network of partners, academic medical centers, and clinicians. To date, 49 startups have participated in Rock Health's accelerator program. Rock Health's fifth portfolio class, comprised of 11 startups, will begin Rock Health's accelerator on June 10, 2013. These companies, which deliver everything from intelligent software to wearable sensors to smartphone-enabled personal diagnostics, were selected out of Rock Health's most competitive applicant pool yet for their potential to provide disruptive and transformative solutions to the most pressing challenges in healthcare.
Also at the heart of Mission Bay is UCSF, the leading university exclusively focused on health, which last month announced the creation of a world-class Center for Digital Health Innovation (CDHI). Led by UCSF's Chief Medical Information Officer Michael Blum, MD, CDHI will focus on developing new technologies, apps, and systems that will generate an unprecedented set of clinical and research data, and have the potential to revolutionize the understanding and delivery of healthcare. Additionally, in early 2015, UCSF will deliver three new breakthrough hospitals in Mission Bay – cancer, children's, and women's specialty – which will foster innovative collaborations throughout UCSF's world-renowned research enterprise, increase the translation of novel discoveries into next-generation products, and set new benchmarks of excellence for medical institutions around the globe.
"One of the lessons of modern medicine is that it cannot be done in a vacuum – it requires experts from science, technology and many health-related fields to come together to create more predictive, preventive and precise care for every patient, everywhere," said UCSF Chancellor Susan Desmond-Hellmann, MD, MPH. "In the last decade, Mission Bay has created an ecosystem that brings all of these elements together, with a spirit of innovation that encourages entrepreneurs to build new companies for the future. That's the perfect atmosphere for entrepreneurs at Rock Health, and makes Rock Health a logical partner in that effort."
"For years, Mission Bay has been at the forefront of life science innovation," said Joel S. Marcus, Chairman, Chief Executive Officer and Founder of Alexandria Real Estate Equities, Inc. "Now, with Rock Health's announcement that it will establish its global headquarters in Mission Bay, immediately proximate to UCSF and its new Center for Digital Health Innovation, this world-class ecosystem has emerged at the leading edge of the digital health revolution, as well. The intersection of life science and digital health is the wave of the future, and Mission Bay is poised to be at its epicenter."
Founded in 1994, Alexandria pioneered the Labspace® niche on the belief that life science entities are most successful when located in the nation's top life science clusters adjacent to world-renowned academic medical research institutions, cutting-edge scientific and managerial talent, and sophisticated capital. Alexandria has remained steadfast in its cluster development model, earning a reputation as the San Francisco Bay Area's largest and leading owner, operator, and developer of best-in-class life science facilities in the Mission Bay, South San Francisco, and Peninsula submarkets. Alexandria currently has a leading collection of high-quality client tenants in Mission Bay including UCSF, California Institute for Quantitative Biosciences (QB3), Bayer AG, Celgene Corporation, Fibrogen, Inc., Nektar Therapeutics, and blue chip venture capital firms such as Novo Ventures, OrbiMed Advisors, Third Rock Ventures, venBio, and Versant Ventures.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), a self-administered and self-managed real estate investment trust (REIT), is the leading and largest investment-grade REIT focused principally on owning, operating, redeveloping, developing, and acquiring high-quality, sustainable real estate for the broad and diverse life science industry. Founded in 1994, Alexandria was the first REIT to identify and pursue a primary focus on the laboratory niche and has since had the first-mover advantage in every core life science cluster location including Greater Boston, the San Francisco Bay Area, San Diego, New York City, Seattle, Suburban Washington, D.C., and Research Triangle Park. Alexandria's high-credit client tenants span the life science industry, including renowned academic medical research centers, multinational pharmaceutical companies, public and private biotechnology entities, U.S. government research agencies, medical device companies, industrial biotechnology companies, venture capitalists, and life science product and service companies. Forty-six percent of Alexandria's total annualized base rent is generated from investment-grade client tenants. As the recognized real estate partner of the life science industry, Alexandria has a superior track record in driving client tenant productivity, collaboration, and innovation through its CBD locations adjacent to leading academic medical research centers, best-in-class laboratory/office space, unparalleled life science real estate expertise and services, and longstanding and expansive network in the life science community, which we believe result in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value. For more information, please visit www.are.com.
About Rock Health
Rock Health is powering the future of the digital health ecosystem, bringing together the brightest minds in health and technology to build better solutions. We support digital health entrepreneurs through a startup accelerator, public events, and open-source research. Rock Health partners include Aberdare Ventures, Accel Partners, Alexandria Real Estate Equities, Boehringer Ingelheim, Fenwick & West, GE, Genentech, Harvard Medical School, Kaiser Permanente, Kleiner Perkins Caufield & Byers, Mayo Clinic, Mohr Davidow Ventures, Montreux Equity Partners, NEA, Ogilvy Public Relations, Qualcomm Life, Quest Diagnostics, Silicon Valley Bank, UnitedHealth Group, and UCSF.
This press release contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in our Annual Report on Form 10-K and our other periodic reports filed with the Securities and Exchange Commission.
SOURCE Alexandria Real Estate Equities, Inc.