Irish medtech gets £13m investment and 100 new jobs
Life sciences technologies company Surmodics has announced the creation of 100 new medtech jobs following the company’s acquisition of Creagh Medical in Ballinasloe, Galway in November 2015
The company said it plans to develop the Ballinasloe operations, by investing more than £5.5m (€7M) in facility development, including the recently acquired building, and creating 100 new jobs above the current base of 32 over the next five years.
Surmdics will also invest a further £7.5m (€9.5M) in two significant research and development (R&D) projects in its new Galway facility.
The company will continue to be located in Creagh Medical's existing 30,000 sq. ft. facility in Ballinasloe. The R&D investment represents a significant step-up in R&D capability for the facility and will require a high level of engineering, chemistry and scientific skill, according to Surmodics.
Minister for jobs, enterprise and innovation, Mary Mitchell O'Connor, said: "This company is at the cutting edge of innovative Life Sciences Research and Development and the expansion of their newly acquired facility in Ballinasloe is very welcome news and a vote of confidence in the skilled Irish workforce.
“Companies like Surmodics help develop some of the next generation of Life Sciences products, thereby further enhancing Ireland's position in this sector. 100 jobs for Galway is great news.”
Gary Maharaj, president and chief executive officer of Surmodics, said: “Surmodics is proud of our talented team of employees and our new state-of-the-art facility for medical device R&D and manufacturing in Ballinasloe.
"We are pleased to have established a presence in a location where we can hire and develop highly skilled medtech personnel as we continue to invest in our vision of developing highly differentiated product solutions.
“We value and appreciate the support we have received from IDA Ireland for those developments."
Surmodics said that the development is supported by the Department of Jobs, Enterprise & Innovation through IDA Ireland.
CEO of IDA Ireland, Martin Shanahan, said: "Surmodics' plans to develop its newly acquired operation in Galway is great news for Ballinasloe and for the region.
“IDA is focused on delivering investments into regions, and I'm delighted that Ballinsaloe has proved to be a suitable location for retaining and developing this new name in the Irish Medtech cluster.
“Its location between Galway and Athlone and their respective Medtech clusters and third level institutes will act as an excellent regional reference seller to other potential investors. I wish them all the very best.”
Surmodics has headquarters in Eden Prairie, Minnesota, USA and operates in two areas of the Lifesciences industry, medical devices and in vitro diagnostics.