Boston Scientific is to invest €30 million in its Cork facility, creating more than 70 jobs over the next three years.
The investment will boost the development of its minimally invasive medical technologies used in the treatment of patients with cancer and peripheral arterial disease, and fund new technology capabilities at the Cork facility.
The jobs will be in engineering and production, growing the workforce at the site from more than 1,200 people. The Cork operation currently makes medical devices for interventional oncology, coronary artery disease, digestive disorders and severe asthma.
Boston Scientific is the largest life sciences employer in Ireland, employing more than 6,000 people at its sites in Galway, Clonmel and Cork. It exports more than 12 million medical devices annually. The company, which established its Irish operations in 1994, has a 40-year heritage in the medical technology industry.
"We are delighted to be adding new, quality engineering and production capabilities to our Cork facility and contributing further to the strong medtech sector in the region," said Sean Gayer, vice-president of operations at Boston Scientific, Cork.
The news of the investment was welcomed by Tánaiste Leo Varadkar. "This investment will allow the company to grow and develop its world-leading technologies and ensure that it continues helping to improve and save lives," he said. "Ireland is globally recognised as a centre of excellence for the life sciences and this investment is a real vote of confidence in us and our capacity. I wish the team the very best with their plans."
In terms of the size of the medical technology sector in Europe, Germany has the highest absolute number of people employed in the sector, while Ireland has the highest number of employees per capita, according to a report from MedTech Europe.
‘Thriving medtech cluster’
The investment is being supported by IDA Ireland. "Boston Scientific has had a strong presence in the Cork business community for nearly 25 years," said Martin Shanahan, chief executive of IDA Ireland. "As the company grows and expands into more therapeutic areas through internal RD&I [research, development and innovation] and acquisitions, its continued investment in ongoing operations and highly skilled local talent is encouraging. This expansion is further evidence of the southwest region's thriving medtech cluster."
The news comes a week after medical device outsource manufacturer Integer said it would invest $30 million (€25.8 million) in expanding its Galway operations with the construction of a new manufacturing facility that could lead to up to 200 new jobs.
AstraZeneca also announced earlier this month that it planned to create 100 jobs in Ireland as it invests $360 million (€310 million) in an advanced manufacturing facility in Dublin.