Eight Irish companies form medtech cluster
25 May 2018 | 0
Eight indigenous medtech companies have formed a business cluster in Sligo to promote Ireland as a global centre of excellence.
The Atlantic MedTech Cluster – one of the first collaborative groups set up under Enterprise Ireland’s Clustering Programme – is a collaborative organisation for the promotion of companies working in medical device design and manufacturing.
The companies involved in setting up the Atlantic MedTech Cluster are: Arrotek, ATS, Inblex Plastics, Pharma Stainless, SL Controls, Tool & Gauge, Verus Precision, and Ward Automation. The companies, which are all based in the North West of Ireland, are specialists in in product development, metrology, automation, precision engineering, manufacturing, and software integration.
Combined, the companies have annual revenue of €33 million and employ 287 people in the region. They serve 282 customers between them – with 17 of the top 20 worldwide Medtech companies among their clients.
Andrew Hodson, managing director of Verus Precision, one of the companies which set up the cluster, said: “This is a very new concept in Ireland but one which we are very committed to as we recognise the ever-increasing importance of collaboration and innovation as a means of achieving maximum cost and time efficiencies – for both cluster members and clients.
Ireland is the second largest employer of medtech professionals in Europe and 18 of the world’s top 25 medical technology companies have a base in Ireland. This cluster was started by specialist MedTech service companies based in the North West of Ireland. This region has always been a leader in the MedTech field and we as a group are committed to creating a world-class MedTech centre of excellence here in Ireland.”
Niall O’Donnellan, head of ICT & international services, Enterprise Ireland, said: “Multinational companies in the medical technology sector are increasingly seeking to reduce the number of key strategic suppliers. They demand an expanding range of services from their suppliers and are prepared to invest in developing very close mutually beneficial working relationships.
“This means suppliers must attain a certain size to be able to target opportunities on the global market, which makes it challenging for small Irish suppliers to compete individually. However, by coming together in a cluster, suppliers can offer an enhanced scope of products and services, and position themselves to win more business in the expanding global medical technology market.”