Health Innovation Hub secures €5m investment

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26 January 2016 | 0

Irish medtech companies and the health service will have more opportunities to collaborate following a €5 million investment in the Health Innovation Hub at University College Cork.

Founded in 2012 as a pilot project, the Government decided to scale the Hub to national level with direct financial support being provided by Enterprise Ireland and the Health Service Executive.

The initiative has supported 23 projects involving 27 companies to date working on projects such as an online tool for GPs to monitor the physical activity of patients via a smartphone or wearable devices; better scheduling services to improve patient flow; and infection control and hygiene management systems.

It has also helped Irish companies to sell their technology abroad. Abtran, developer of electronic GP referral system recently closed a contract with a Tier‐1 strategic customer for Troponin development; Radisens secured a significant ESA contract valued at €1 million to develop an innovative blood testing device for use by astronauts on board the International Space Station and on various human spaceflight missions.

A director will now be appointed for a five-year term and a stakeholder advisory group will also be set up to act as a forum between suppliers and users.

“Ireland’s strengths in ICT combine well with expertise in traditional healthcare and medical technology and many of our indigenous medtech businesses are leading international players in their areas of specialist expertise,” said Julie Sinnamon, CEO, Enterprise Ireland.

“Enterprise Ireland is committed to supporting collaboration opportunities between the health system and enterprise sector in order to innovate and internationalise healthcare technologies. The Health Innovation Hub will improve the efficiency of the commercialisation process of new technologies, products and services, benefitting the health sector and society as a whole.”

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