Rochester, MN (KROC AM News) – Mayo Clinic has announced another tenant for the One Discovery Square building that is part of its downtown campus.

Mayo reported Monday it is teaming up with Boston Scientific in a new venture aimed at speeding up “the development of medical technology and new minimally invasive treatments for many health conditions that impede quality and longevity of life.”

The accelerator will be known as Motion Medical and according to Mayo, it will be “a key tenant” in the building. It’s expected to open later this year.

Mayo and BostonScientific have committed millions of dollars over three years to develop and bring new solutions to the market to address unmet medical needs.

"Mayo Clinic is committed to accelerating the pace of discoveries to bring new technologies and treatments to patients faster," said Gianrico Farrugia, M.D., president and CEO of Mayo Clinic. "This collaboration and others like it will continue to strengthen Rochester and Minnesota as a biomedical innovation and economic powerhouse."

A press release says “This venture is another step forward in the collaboration between Mayo Clinic and Boston Scientific Corp., combining Mayo Clinic's world-class clinical experience and patient care with Boston Scientific's extraordinary engineering, innovation and business expertise.”

"This collaboration between Mayo Clinic and Boston Scientific builds on our experience working together to support the shared goal of advancing patient-centered innovation," says Mike Mahoney, chairman and CEO, Boston Scientific. "This approach combines the unique strengths of our two organizations, and we look forward to working together to solve complex health care challenges."

Mayo Clinic and Boston Scientific Corp. have collaborated for nearly a decade to develop new devices and technologies in areas such as interventional cardiology, neuromodulation and urology. Together the companies have filed eight patent applications and collaborated on two first-in-human clinical trials.

News update: A Rochester home was hit by a burglar over the weekend while the owners were sleeping.