The company, which employs more than 4,000 people in Ireland, is developing cardiovascular devices at its Clonmel base.
Medical device company Abbott has announced plans to invest €37.8m at its Clonmel base as it focuses on the continued development of cardiovascular devices.
Over the next three years, the US healthcare company will invest in an R&D programme focusing on a number of projects, including next-generation drug-eluting stents as well as coronary and endovascular balloon technologies.
The company’s vascular devices site in Tipperary has been a key location for the development of its Xience stents, which are used by cardiac patients all over the world.
The Irish R&D team also developed the Xience Sierra stent, which is used in 90 countries worldwide and has been specially adapted for more complex heart disease problems.
“Our market-leading Xience stents were developed in Clonmel and today’s announcement places us at the vanguard of Abbott’s global research efforts in cardiovascular treatments,” said Deirdre Mullins, site director for Abbott in Clonmel.
“We are very proud that the life-changing technologies we design and manufacture in Clonmel are saving lives in Ireland and across the world.”
The continued investment in its R&D centre in Clonmel, supported by the Irish government through IDA Ireland, comes as Abbott celebrates 75 years in Ireland this year.
“Abbott was one of the first US companies to establish operations in Ireland and is one of our largest medtech employers, with six manufacturing sites and three corporate services operations throughout the country,” said Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, TD.
IDA Ireland CEO Martin Shanahan added: “Abbott has demonstrated real commitment to its Irish operations in its 75 years here, investing and expanding its operations and growing jobs across its manufacturing and shared services sites, employing over 4,000 people in Ireland. The economic and jobs benefit of Abbott’s longevity here is substantial.”
As well as the company’s Clonmel site, Abbott has manufacturing facilities in Cavan, Donegal, Longford and Sligo. It also has commercial, support operations and shared services bases in Dublin and Galway. In total, Abbott employs more than 4,000 people across its nine Irish sites.