Medical Technology Companies Invest EUR 5m in Galway

Medical Technology Companies Invest EUR 5m in Galway

galway.net , 01 March 2005

Minister for Enterprise, Trade and Employment, Micheál Martin TD, announced on Friday (25 Feb 2005) three key medical technology investments for Galway.

Respironics, Inc., Labcoat Ltd. and Ulbrich Stainless Steels and Special Metals Inc. will cumulatively invest EUR 5m in their new plants and create 213 highly skilled jobs in the region. The three companies will join the existing core of IDA-supported medical technology companies operating successfully in the West.

Making the announcement Minister Martin said: I compliment Galways ongoing success in attracting industry from this business sector. These companies are global leaders in their respective fields and their presence here is a real endorsement of Galways reputation as a premier location for medical technology companies and the committed efforts of IDA to attract and develop strategic R&D activity from knowledge-based, global industries to Ireland.

Respironics, Inc., a leading global medical technology company in the sleep and respiratory markets, is to invest approximately EUR 3m establishing a Global Centre of Excellence at Parkmore Business Park for the design, development and production of a new series of non-invasive respiratory ventilation products for the worldwide medical industry. Respironics, Inc. is a publicly traded company on the NASDAQ with annual sales of $760 million for the year ended the 30th of June 2004. The Centre will create 105 high-calibre jobs over five years in high-level R&D, quality control, information technology, manufacturing and logistics. In addition, it will be responsible for strategic marketing in Europe, Middle East and Africa (EMEA).

Labcoat Limited, specialising in the research and development of drug application technologies has centralised its headquarters, manufacturing and R&D operation at the Ballybrit Business Park. The investment of EUR 1.24m will create 68 new high quality jobs over four years. The Irish operation will be responsible for the continuing development of the companys unique core technology to coat stents and other medical implants. Labcoat will also carry out the commercialisation of its product initiatives from the Galway operation.

Ulbrich Stainless Steels & Special Metals Inc, a US company, has established a European Operations Centre at the IDA Business Park at Gort, Co. Galway. The Irish operation has responsibility for the manufacture, sales, distribution and market development of precision wire products for the medical devices sector. Product development, to be undertaken in association with external centres-of-excellence in biomedical engineering, will also form part of the new companys charter. The investment, in line with Ulbrichs strategy to focus on higher value business, will create 40 new skilled jobs over five years. With recruitment already underway the jobs involve positions in management, engineering and skilled manufacturing.

Minister Martin said of Respironics, this is an important manufacturing investment in the medical device area where Ireland has an opportunity to build on the cluster of such companies. This is another important step in the evolution of the West of Ireland as a world recognised hub of medical technology companies. Labcoat Ltd. is a pioneer in its drug delivery technology to coat stents for use in endovascular procedures. The arrival of companies such as Labcoat Ltd. to Ireland to carry out such crucial work is very important in cultivating significant R&D activity here and the research competencies of the educational institutions in the West of Ireland. He went on to say that Ulbrichs establishment of a European Operations Centre in Gort represents another important addition to the development of the medical devices sub-supply infrastructure.

What is encouraging is that each of the Galway operations are engaged in key corporate activities in one integrated facility again, proving that Ireland is succeeding in its aim to attract strategically important corporate functions from these global leaders he concluded.

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