Medtech giant Medtronic will establish a new manufacturing facility in Galway to manufacture its next-generation medical device to treat artery disease, the company has announced. More than 100 skilled professionals will be based at the new facility.
The company said that the decision to base the new facility in Galway was based on existing expertise at the site in drug-device combination products.
Highly-skilled professionals from other parts of the Medtronic organisation, approximately 100, who specialise in the areas of quality and manufacturing engineering, supply chain and production management, will be stationed in the new facility.
The Galway facility will have 20,000 square feet of space with 8,000 square feet dedicated to manufacturing and will cost approximately €13m.
“Manufacturing is a key sector that we have targeted as part of the Action Plan for Jobs, and over the past four years we have seen the sector perform well after years of neglect,” said Jobs Minister Richard Bruton TD.
“The investment in Galway today by Medtronic is a great example of the type of manufacturing projects we are trying to develop in Ireland – highly-skilled jobs, manufacturing innovative products, for sale in global markets. I wish Tony and the team every success with this project.”
Fast-growing med tech
The facility will manufacture the IN.PACT Admiral drug-coated balloon (DCB) for the treatment of peripheral artery disease (PAD).
PAD is a build-up of plaque in arteries throughout the body leading to reduced blood flow to the limbs, organs, and the brain. Patients with PAD are at higher risk for stroke and heart attack.
“Since launching the IN.PACT Admiral DCB in the US market, it has quickly become the fastest adopted DCB technology,” said Tony Semedo, senior vice president of the aortic and peripheral vascular business at Medtronic.
“In fact, our global market leadership in DCB is driving the need to open the new facility here in Galway to provide more patients access to this highly efficacious and safe treatment option for peripheral arterial disease.
“Our Galway operations and staff have very specific expertise in this area, which is the platform for this announcement. Once fully operational, this facility will be the only DCB manufacturing area of its kind in Medtronic worldwide. Our organisation is on an expansionary path, with a notable amount of this growth to be fueled by products coming out of Ireland.”
The investment showcases Ireland’s position as a global hub for medical technologies, said Martin Shanahan, CEO of IDA Ireland.
Shanahan said that Ireland employs the highest number of medical technologies personnel per capita in Europe.
“We have worked over a period of time with Medtronic to bring this capability and project to fruition in Ireland. The decision by Ireland and the IDA several decades ago to attract major medical and other technology companies to Ireland via state investment and support infrastructure continues to enable Ireland to reap the benefits,” Shanahan said.
Galway image via Shutterstock