Veryan Medical announces multimillion-euro Galway investment
Veryan has announced a multimillion-euro investment at its Galway facility that will contribute to the further expansion and diversification of Veryan’s product portfolio.
Supported by the Irish Government through IDA Ireland, the investment will see the company expand its portfolio beyond the BioMimics 3D Swirling Flow stent, which improves blood flow through arteries in the leg.
Veryan opened its first Galway facility in 2006 and was acquired by Otsuka Medical Devices (OMD), a subsidiary of Otsuka Holdings, in 2018.
Since the OMD acquisition, the Veryan Galway workforce has grown from 11 to 46 employees in design engineering, development, supply chain operations, regulatory, quality assurance through to clinical operations, data management and finance.
It is expected that the investment will create a further 20 full-time jobs in Galway. The new roles will be associated with three development projects, two focused on arterial intervention and one, an exciting new treatment for venous disease.
In preparation for the expansion in operations, the Galway team recently relocated to the new Veryan Innovation Centre, a 15,000 sq. ft facility at Parkmore Business and Technology Park, Galway, which has been designed to achieve the Gold standard in Leadership in Energy and Environmental Design (LEED) for green buildings.
“Today’s announcement provides a very timely stimulus for our outstanding team, which has displayed remarkable resilience and perseverance during the Covid-19 pandemic”, said Nick Yeo, CEO of Veryan. “For more than a decade, our Galway R&D team has nurtured a culture of Design Intelligence and this investment will create exciting opportunities to add this value mark to the new products we are developing.”
“The investment announced today by Veryan is a significant addition to the Japanese Life Sciences companies that have chosen to locate in Ireland and further strengthens the West Region’s MedTech cluster,” said Martin Shanahan, CEO of IDA Ireland. “I also wish to congratulate Veryan on its move to its Innovation Centre at Parkmore Business and Technology Park in Galway, and every success with this latest expansion.”