Red Hat’s acquisition of Waterford Institute of Technology (WIT) spin-out FeedHenry last month for €63.5m must rank as one of the biggest acquisitions of a campus company in Irish academic history.
Dublin: 25.10.2014 08.43PM
Twenty new R&D jobs are to be created as part of a massive US$30m investment by medical devices player Stryker Instruments at its facility in Carraigtwohill, Co Cork.
The investment by Stryker will see the Cork plant developing the next generation of surgical devices for global markets.
The Cork R&D facility will partner with its headquarters in Kalamazoo, Michigan, and several other Stryker businesses to develop technologies that will be used in a range of medical procedures as hospitals globally seek new and innovative solutions to medical care challenges.
“Today’s announcement that Stryker is investing an extra $30m in R&D activities with the creation of 20 new high-end jobs is great news and a strong indication of what is possible in this area,” Ireland's Minister for Research and Innovation Sean Sherlock, TD, said.
“Through continued implementation of the Action Plan for Jobs, I am determined to ensure that we derive greater benefit from our R&D activities so that we can turn more good ideas into good jobs and support the employment growth we need,” Sherlock said.
The investment, supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland, will create 20 additional R&D positions over the next four years. The investment is part of a long-standing commitment to Ireland by Stryker.
“We are excited about this important investment in our R&D efforts and the continued support of the IDA as we work to provide new technology to our customers,” Stryker’s CEO Jim Heath said.
The products and technologies being developed will reduce surgery time, increase operating room efficiency and improve accuracy and precision in neuro, spine, ENT, arthroscopy, general surgery and total joint arthroplasty procedures.
“The products being developed in Ireland have the potential to significantly impact the efficiency with which surgical procedures are carried out,” IDA Ireland CEO Barry O’Leary said.
“Ireland enjoys a strong global reputation as a leading location for R&D in the life-sciences sector and this reputation is further enhanced with Stryker’s decision, complementing IDA’s strategy to promote transformation within its existing client companies,” O’Leary added.
Watch out for Silicon Republic's Future Jobs Forum, which takes place in the Convention Centre Dublin, on Friday, 8 February, and which will gather Ireland's leaders in the 'knowledge economy' to look at constructive solutions as we race to win the battle for global talent. Event site goes live in coming days.