Siemens Healthineers plans a $300 million expansion of its 500,000-square-foot Walpole lab and manufacturing facility over the next four years.

The Tarrytown, New York-based company will begin renovations this winter with the intent of adding up to 700 jobs, bringing total employment at the Coney Street site to 1,600 by 2026. The expansion beginning next summer will include manufacturing, office, warehouse and lab space, Siemens announced today.

Siemens Healthineers manufactures diagnostic and therapeutic imaging equipment and is developing digital health services. The division was known as Siemens Healthcare until May, when German parent Siemens AG spun off the division as a separately managed “company within a company.”

The Massachusetts Life Sciences Center granted $735,000 in tax incentives in April for the expansion in exchange for a commitment to add 30 jobs. Walpole voters in March approved a 20-year tax increment financing agreement that will reduce the company’s property tax by 75 percent, The Enterprise of Brockton reported.