Eight Irish companies have joined forces to help promote Ireland as a global centre of excellence for the medtech industry.
The Atlantic MedTech Cluster comprises of individual firms Arrotek, ATS, iNBLEX Plastics, Pharma Stainless, SL Controls, Tool & Gauge, Verus Precision and Ward Automation.
It is one of the first business groupings set up under the Enterprise Ireland’s Clustering Programme, and the cluster has a combined annual revenue of €33m, employing 287 people.
All of the companies, which are based in the northwest of Ireland, are specialists in their field, including product development, metrology, automation, precision engineering, manufacturing and software integration.
The Atlantic MedTech Cluster allows potential clients to access these specialist services, whatever the requirement, in one location.
Managing Director of Verus Precision, Andrew Hodson, said that the cluster concept is very new in Ireland but one which is becoming increasingly important.
"Ireland is the second largest employer of MedTech professionals in Europe and 18 of the world’s top 25 medical technology companies have a base in Ireland."
"We recognise the ever-increasing importance of collaboration and innovation as a means of achieving maximum cost and time efficiencies – for both cluster members and clients."
The eight companies currently serve 282 customers between them - with 17 of the top 20 worldwide medtech companies among their clients.
Minister for Business, Enterprise and Innovation, Heather Humphreys TD launched the new cluster and said that the initiative "is designed to encourage groups of businesses to collaborate to achieve specific objectives, improve competitive advantage, and ultimately, create jobs".