Medical device firm Cambus Teo is to create 35 new jobs now that half of the Spiddal, Co Galway, company has been acquired by Helix Medical, a global manufacturer for the medical device and healthcare industries.
Under the agreement, Helix Medical will provide Cambus Teo with expansion financing.
“This investment by Helix Medical underpins the company’s strategic development to date, places Cambus on solid foundation for continued growth and expansion in the future and will enable the company to remain on course to deliver a further 35 new jobs by the end of 2013,” said John Farragher, director of Cambus Teo.
Farragher added that the company would soon begin recruiting for new positions in engineering, production and management. Cambus Teo currently employs 50 people.
Barry Comerford, managing director of Cambus Teo, said the partnership enables the company to double the size of its plant, further expand its technology base, and increase its product portfolio to customers worldwide.
“Helix Medical’s global presence combined with our complementary engineering and manufacturing capabilities offers an ideal platform for the expansion of Cambus Medical’s services,” said Comerford.
Established in 2006, Cambus Medical develops, designs, and manufactures critical components for minimally invasive medical devices used in diagnostic and therapeutic interventions, mainly high-precision hypotubes and micro-component solutions for advanced catheter systems.
Cambus Teo has been supported by An Údarás na Gaeltachta.