Covidien announces €25 million investment in Ireland

Trade

Covidien, a global provider of healthcare products, has announced that six research and development projects will be undertaken in partnership with the Company’s facilities in Galway and Athlone.

Covidien and the IDA are jointly supporting the projects, which represent an investment of more than €25 million. The number of actual jobs to be created could not be confirmed.

Jose E. Almeida, president and chief executive officer of Covidien, said: "These advanced research and development projects represent a significant future pipeline of innovative products for Covidien. They also may produce important data to further patient health and safety.

"Innovation is and will remain a critical contributor to our Company’s strong competitive advantage in the medical devices market, to Ireland’s business growth… and to the world’s economic recovery."

Attending the announcement, Minister for Jobs, Enterprise and Innovation Richard Bruton said: "This announcement is great news for Athlone and Galway, and represents evidence of Covidien’s strong commitment to high-end activities in Ireland. It is a welcome endorsement of Ireland’s record in research and development and represents a further boost for the vibrant medical devices sector here."

The projects involve the development of respiratory care products for ventilation and airway management. Two projects will be managed at the Company’s plants in Athlone and Galway. The other four projects will be conducted at independent facilities in Ireland on behalf of Covidien. They include projects with BlueBridge Technologies, the Biomedical Diagnostic Institute of Dublin City University and the National University of Ireland Galway (NUI Galway).

These six projects are the latest in a series of Irish research projects underwritten by Covidien. A year ago, Covidien announced that it was investing €900,000 with the IDA in two medical technologies research projects with NUI Galway. Covidien also announced in 2010 an €11 million investment in a state-of-the-art European Services Centre in Cherrywood, Dublin, which employs 200 people. Covidien now employs more than 1,500 people in Ireland.

Covidien has production facilities in Athlone, Tullamore, Galway and Damastown and Dublin, where its principal executive office is located. The company employs 41,000 people globally in more than 65 countries.

TechCentral Reporters