Galway-based medtech company Aerogen to create 80 new jobs

Company currently employs 240 people, having taken on extra 50 people this year

Aerogen founder and chief executive John Power

Aerogen founder and chief executive John Power

 

Galway-headquartered medtech and drug delivery company Aerogen is to create at least 80 new jobs next year.

The news was announced at the official opening of its new 27,000 sq ft engineering labs at Galway Business Park in Dangan.

Aerogen, earlier this year announced 50 new jobs after it secured a €30 million loan from the European Investment Bank to expand its manufacturing facilities and increase research and development activities.

Founded by John Power as Cerus Medical in 1997, Aerogen’s acute care aerosol drug delivery devices are used in 75 countries, with its customers including 80 per cent of hospitals in Ireland and 60 per cent of the top 100 hospitals in the United States.

The company, which started work on an expansion at its facility in Galway last October to support growth, has won a number of awards, including European Entrepreneur of the Year, medical technology company of the year and Irish exporter of the year. It has also been a finalist in both the Irish Times Innovation awards and the EY Entrepreneur of the Year awards.

“Aerogen’s business continues to grow rapidly as we develop our newer international market in the Middle East and south east Asia whilst generating increased demand in our primary markets of USA and Europe. Servicing this growth has required significant increases in capacity and the ongoing hiring of talented professionals both at home and overseas,” said Mr Power.

He said production output at Aerogen has more than doubled in the past four years while the number of employees has increased by 24 per cent this year to 263. Their products have been used to treat close to nine million patients across 75 countries worldwide.

Aerogen reported revenues of €58.4 million last year, up from €54.8 million in 2017. Pretax profits fell however to €7.35 million from €12 million over the same period on the back of continued investments in the business.