"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 high-technology job creation, and to the world’s economic recovery"José E. Almeida, President and Chief Executive Officer, Covidien
Covidien plc, a leading global provider of healthcare products, today announced that six research and development projects will be undertaken in partnership with the Company’s facilities in Galway and Athlone.
Covidien and the Irish government, [through its investment promotion agency, IDA] are jointly supporting the projects, which represent an investment of more than €25 million and will create an as-yet undetermined number of research positions.
José E. Almeida, President and Chief Executive Officer of Covidien, said that Ireland’s well-established record of fostering successful innovation was key to the decision to locate the projects in this country. “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.”
Mr. Almeida added that, “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 high-technology job creation, and to the world’s economic recovery.”
The announcement of the projects was made here with the Minister for Jobs, Enterprise and Innovation, Richard Bruton, and with IDA Ireland’s Head of Medical Technologies, Gus Jones.
The Minister 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. With the right policies we can ensure that this announcement is replicated across the country in the coming years, and I am determined to make sure that happens”.
Mr Jones said: “The projects being announced today will reinforce Ireland’s position as a global hub for medical technologies, employing the highest number of medical technologies personnel per capita in Europe. Nearly 60 percent of the medical technology companies with operations in Ireland conduct R&D locally, which is important for the sector’s continued growth and vitality.”
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 30 years of manufacturing history in Ireland, with production facilities in Athlone, Tullamore, Galway and Damastown, Dublin. Additionally, Ireland is home to Covidien’s principal executive office, which is based in central Dublin.
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit http://www.covidien.com to learn more about our business.