InterSystems Corp., a Cambridge-based medical software and data management company, plans to nearly double its headquarters footprint and employee count with a move to downtown Boston.
InterSystems on Tuesday confirmed a 420,000-square-foot lease at One Congress, a 1 million-square-foot office tower now under construction. It will lease the top 14 floors of the 43-story tower, above the global headquarters for financial services giant State Street Corp. and law firm K&L Gates.
The lease is among the largest in the region since the start of the COVID-19 pandemic, and comes as InterSystems approaches $1 billion in annual revenue. The company currently occupies 220,000 square feet at One Memorial Drive in Cambridge.
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InterSystems employs about 1,000 people in Cambridge and another 800 in 25 offices across the globe. The Boston headquarters will allow InterSystems to double its local employee count, said spokesperson Tom Keppeler.
The growth is driven by “a huge and growing need to make better use of data,” particularly in areas such as health care, financial services, and logistics, Keppeler said.
One Congress is part of the multibillion-dollar Bulfinch Crossing development, where demolition worker Peter Monsini was killed in an accident in March. Demolition at the Government Center Garage, where Monsini was working, has not yet restarted.
Interior work is being done at the One Congress tower, however, and the building is scheduled to wrap up construction later this year. InterSystems plans to move in 2024, the company said.
Catherine Carlock can be reached at catherine.carlock@globe.com. Follow her on Twitter @bycathcarlock.