US-based medtech company Stryker is to invest more than €200 million at research and development in three of its Cork facilities.
The funding is part of the company’s drive to develop next-generation products and services across its medical surgical, orthopaedics and neurotechnology and spine units.
The investments will be made at projects at its Amagine Institute, which develops additive manufacturing products for its spine, craniomaxillofacial and joint replacement units; its neurovascular business, which develops stroke treatment products ; and its instruments innovation centre, which designs and commercialises new surgical devices.
The Michigan-headquartered company has been in operation in Ireland for more than 20 years, has six locations and employs more than 3,500 people.
“At Stryker we are committed to making healthcare better for our customers and their patients. Our mission is driven by a collaborative focus, leveraging the knowledge and experience of our talent across the globe.
"Our team in Ireland has built considerable research and development and new product development capabilities through the partnership of multiple divisions over the past 20 years in an effort to serve multiple market segments," said Stryker's Spencer Stiles.
" The continued growth and investment in Ireland is the result of many factors, inclusive of the research, development and innovation support from IDA Ireland and the partnerships built with leading Irish universities and research centres."
The news was welcomed by Minister for Business, Enterprise and Innovation, Heather Humphreys.
“This not only reflects the company’s commitment to Ireland, it is also a testament to our talented workforce. These RD&I projects are truly world-leading, highly innovative and pioneering. Without a doubt they have the potential to change the face of healthcare provision, reaffirming Ireland’s position as a global leader in the medtech industry.”
The company's investment is being supported by IDA Ireland. Executive director Mary Buckley described the projects as "exciting and ambitious".
“These projects further embed Stryker, offer exciting and challenging opportunities to best-in-class researchers, and position Cork at the forefront of medtech innovation.”