Multinational medtech firm Stryker will invest €200m in R&D across a number of its facilities in Co Cork.
One of the country’s biggest medtech employers has announced major investment plans for its operations across Cork. In conjunction with IDA Ireland, the multinational announced this morning (13 June) that it will invest more than €200m in research, development and innovation projects at three of its five Cork facilities.
This, it said, will help it deliver next-generation products and services across its medical and surgical, orthopaedics, and neurotechnology and spine offerings. The company invested more than 6pc of its global sales in 2018 in R&D.
Stryker currently has six locations in Ireland and employs more than 3,500 people. Last year it marked its 20th anniversary in Ireland.
“Our team in Ireland has built considerable research and development, and new product development capabilities through the partnership of multiple divisions over the past 20 years in an effort to serve multiple market segments,” said Stryker’s group president for instruments, neurotechnology and spine, Spencer Stiles.
“The continued growth and investment in Ireland is the result of many factors, inclusive of the research, development and innovation support from IDA Ireland and the partnerships built with leading Irish universities and research centres.”
Meanwhile, Minister for Business, Enterprise and Innovation Heather Humphreys, TD, welcomed the news. “I am delighted to see this substantial investment from Stryker at their sites in Cork,” she said at the announcement.
“These projects are truly world-leading, highly innovative and pioneering. Without a doubt, they have the potential to change the face of healthcare provision, reaffirming Ireland’s position as a global leader in the medtech industry.”
IDA Ireland executive director Mary Buckley added that the company is a “major and valued employer in Cork, Limerick and the wider south region”.