Boston Scientific is to invest €50 million in strategic research and development at its Galway facility. The corporation, which specialises in medical devices for use in minimally invasive surgical procedures, will invest the money with the support of IDA Ireland.
Boston Scientific was established in Galway in 1994 and is the largest manufacturing site within the corporation. More than 3,000 people are employed to manufacture cardiology and peripheral vascular products such as stents and catheters. This is a major investment for the company and an integral part of its strategic plans.
Minister for Finance Brian Lenihan welcomed the investment, “This investment is extremely significant, not just for Galway, but also in terms of the research and development activities that are taking place in Ireland,” he said.
“Boston Scientific is a highly technologically advanced company which has to rapidly change and continually develop to remain ahead in a highly competitive industry. Their desire to locate this investment here speaks very highly of the calibre of Irish scientific talent,” Mr Lenihan added.
This investment will further underpin both R&D and manufacturing at the Galway facility and will broaden significantly the capabilities of the R&D team responsible for new product development, which directly employs more than 200 people.
“The R&D investment will bring major technical enhancement in innovation and skills to the Galway facility, which has already gained a valuable reputation within Boston Scientific Corporation for its successful development of drug-eluting stent products, through commercialisation to approval and global volume launch,” concluded Minister Lenihan.
Barry O’Leary, CEO of IDA Ireland said, “At €50 million this is one of the most significant research and development investments supported by IDA Ireland. Given the stature of the Boston Scientific Corporation, it demonstrates Ireland’s ability to win such investments internationally and demonstrates our ability as a capable knowledge based economy.”