Pros
Molecular Devices is an operating company of Danaher, which is a large conglomerate that owns Danaher Coulter, Leica, and other big life science companies. This gives employees some exposure to sister companies. As of this writing the company is trying to rebrand itself, so there might be some hope for the future. The location in the heart of Silicone Valley is a big plus. This company is primarily medical research instrumentation hardware design and manufacturing company so lots to do if you are an electrical/mechanical/optical engineer.
Cons
Because it is a medium size company part of the large conglomerate (Danaher) there is allot of process, even for creative work like software engineer. This can be seen as a positive for some people though.