Medtronic invests €13m while Phenox creates 65 new jobs
One of Ireland's biggest companies, Medtronic, which acquired Dublin-based Covidien in a tax-driven deal earlier in the year, has announced a €13m expansion to its Galway facility.
The company, which employs 4,000 people in Ireland, will manufacture the 'IN.PACT ADMIRAL' drug-coated balloon (DCB).
The DCB is intended to treat peripheral artery disease, which is a build-up of plaque in arteries throughout the body.
Speaking about the investment, Medtronic senior vice president Tony Semedo said that 100 existing Galway-based employees would be moved into the new extension.
"They are coming from the existing Galway site where they were manufacturing other products," Mr Semedo said.
"One of the things that the Galway manufacturing organisation has been very good at is being able to develop efficiencies of being able to build more products with the same number of people.
"Because of those labour efficiencies they've generated, we've been able to move 100 individuals over to produce this product," Mr Semedo said.
Mr Semedo said that the company may look to employ more people in Ireland as its volume of production grows.
"As volume continues to increase over the next several years we will either ship additional individuals or we will have to add new employees to the organisation in order to cover that additional production requirement.
"Our plan is to continue to manufacture products here in Galway as we identify more opportunities to bring products in here that are compatible with the workforce and our infrastructure here in Galway," Mr Semedo said.
Meanwhile, Phenox, the German medical manufacturer, has announced the creation of 65 new jobs in Galway over the next five years.
The jobs will be in a new manufacturing facility which will manufacture interventional neurovascular medical devices for the treatment of aneurysms and stroke.
Speaking about the announcement Phenox GmbH, founder and marketing director Hermann Monstadt said the new facility, which will operate under Phenox Ireland Ltd, is part of the firm's expansion plans.
"The Galway facility is critical to Phenox's global expansion plans and will produce products specifically for the US and other international markets."
The chief executive of the IDA, Martin Shanahan, said that Phenox will be a significant addition to the Galway medical technology cluster.