Medical research company relocates to Texas

Technology companies continue to flock to Texas, with another California corporation joining the fray.

Vermillion, a molecular diagnostics company, will relocate from Fremont, California, to Austin, Texas. The business plans to keep its research and development unit, and its quality and regulation operations in Southern California, while moving all other departments and executives to the Lone Star State.Vermillion signed a two-year lease on 12117 Bee Cave Road in Austin.

CEO Gail Page said that the decision was cost-related. "This move allows us to take advantage of Austin's strong talent pool and cost-effective environment to continue to build the company into a leading provider of novel, high-value diagnostic tests. Austin's central location also facilitates more efficient and effective interaction with our national sales force and our strategic partners on the East Coast, such as Quest Diagnostics and Johns Hopkins University, as well as our colleagues on the West Coast, such as PrecisionMed and Stanford University."

The company won't be alone. Texas has become an increasingly popular destination for companies on the move because of its steady job growth and business-friendly tax status.Solera Holdings, another California-based tech company, will also relocate there.

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