Creganna's Quinn moves into food business - targeting Silicon Docks workers
Ian Quinn, co-founder of the Galway medical devices firm Creganna Medical, which was sold earlier this year for €820m, is expanding into the sandwich business.
Creganna, founded by Quinn in 1980, is a large global manufacturer of medical devices for the minimally invasive vascular surgery market.
A company owned by him and his wife, Enda, Xenium Clarinbridge, has applied for planning permission to convert a Dublin retail unit into a cafe/sandwich bar. Located in the Bottleworks building in Ringsend, it would target tech workers in the Dublin Silicon Docks.
Retained profits at Xenium Clarinbridge soared to almost €1.1m last year, from less than €300,000 in 2014, according to the company's most recently filed accounts. Its principal activity is described as management of real estate on a fee or contract basis.
Quinn has recently invested in Bluedrop Medical, a Galway-based medical technology startup that aims to save diabetics from amputations.
The investment is part of a €600,000 fund-raising bid to develop and commercialise an internet-connected device which scans a person's foot to predict the formation of, and detection of diabetic foot ulcers.
"Our device looks like an electronic weighing scales you might have in your bathroom, but it performs a daily scan of a patient's feet. It then sends the data to the cloud for analysis using advanced algorithms capable of detecting abnormalities," Bluedrop co-founder Chris Murphy told the Sunday Independent in August.
Sunday Indo Business