Multi-million takeover could create new jobs
LAKE REGION Medical have made a multi-million euro deal in acquiring another Irish medical devices company, which they hope will ultimately lead to the creation of more jobs in New Ross.
The company acquired Galway based Brivant Medical, which develops and manufactures medical devices, in a substantial deal which came into effect last Thursday.
A spokesperson for Lake Region Medical said the new acquisition will preserve and eventually expand jobs at the company site in New Ross.
Both companies are global leaders for medical device guidewires and related products for minimally-invasive cardiac surgery and other procedures.
'We did not have research and development in Ireland. It has all been manufacturing. All of newer our products have been developed in America so it made it more difficult for newer products to move to Ireland,' said Ron Von Wald, Global Marketing Director.
'One way of dealing with that was to acquire somebody and Brivant is a relatively small organisation but who have good engineering products, which enables us to have research and development so we can manufacture newer products for cardiac, peripheral and neurological intervention,' he explained.
According to Mr Von Wald, the New Ross business has been steadily expanding, with Lake Region acquiring more land for the Butlersland based company, while the MD of Lake Region Medical John Harris has been promoted to the position of Vice President of Outside of US Operations.
Brivant Medical's technology, research and development, operations, and product portfolio are said to strengthen Lake Region Medical's presence in the interventional guidewire marketplace to deliver a wide range of steerable guidewires for use in interventional cardiology and peripheral applications.
'Our corporation is very pleased with the New Ross facility. They are a phenomenal group of people and in my opinion it is one of the top facilities in the world,' added Ron.