Medtronic announcement a major confidence vote

Medtronic plc, a global leader in medical technology, services and solutions, this week announced a new manufacturing facility in Galway that will manufacture the market-leading IN.PACT® Admiral® drug-coated balloon (DCB ) for the treatment of peripheral artery disease (PAD ). PAD is a build-up of plaque in arteries throughout the body leading to reduced blood flow to the limbs, organs, and the brain. Patients with PAD are at higher risk for stroke and heart attack.

The decision to locate the new manufacturing facility in Galway is based on the existing high-tech capability and expertise at the site in drug-device combination products for Medtronic’s coronary business. Highly skilled professionals from other parts of the Medtronic organization, approximately 100, who specialize in the areas of quality and manufacturing engineering, supply chain and production management, will be stationed in the new facility.

The announcement was made in Galway with a site-visit from Minister Richard Bruton TD, and Michael Lohan, Manager of Medical Technologies Division, IDA Ireland.

Minister Richard Bruton TD said that manufacturing is a key sector which we have targeted as part of the Action Plan for Jobs, and over the past four years we have seen the sector perform well after years of neglect. The investment in Galway by Medtronic is a great example of the type of manufacturing projects we are trying to develop in Ireland – highly-skilled jobs, manufacturing innovative products, for sale in global markets. I wish Tony and the team every success with this project.”

Martin Shanahan, CEO, IDA Ireland said that this announcement once again showcases Ireland’s position as a global hub for medical technologies, with this country employing the highest number of medical technologies personnel per capita in Europe.

“We have worked over a period of time with Medtronic to bring this capability and project to fruition in Ireland. The decision by Ireland and the IDA several decades ago to attract major medical and other technology companies to Ireland via state investment and support infrastructure continues to enable Ireland to reap the benefits.”

Tony Semedo, senior vice president and president of the Aortic & Peripheral Vascular business at Medtronic, stated that the investment showed Ireland’s importance to Medtronic’s overall growth strategy.

“Our Galway oerations and staff have very specific expertise in this area, which is the platform for this announcement. Once fully operational, this facility will be the only DCB manufacturing area of its kind in Medtronic worldwide. Our organization is on an expansionary path, with a notable amount of this growth to be fuelled by products coming out of Ireland.”

Medtronic continues to see additional synergies since the acquisition of Covidien. With the IN.PACT Admiral DCB U.S. launch the week following the acquisition, Medtronic was able to leverage the combined sales force to get this product to market faster.

The facility will have 20,000 square feet of space with 8,000 square feet dedicated to manufacturing and will cost approximately €13 million. It has been specifically designed to meet the needs of the manufacturing process associated with the IN.PACT Admiral drug-coated balloon (DCB ), which is used for the interventional treatment of peripheral artery disease (PAD ) in the upper leg. This is a serious and common cardiovascular condition that affects more than 202 million people worldwide.

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