Wednesday 13 November 2019

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Cork Independent

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Cork sees €200m Stryker investment boost

Wednesday, 19th June, 2019 3:45pm

Medtech company Stryker recently announced that it is to invest over €200m in research, development and innovation (RD&I) projects at three of its five Cork facilities.

The news highlights Cork’s continued strength in this area. The investment is to deliver next generation products and services across Styker’s medical surgical, orthopaedics and neurotechnology and spine offerings.

The RD&I projects are supported by the Irish Government through IDA Ireland.

Last year, Stryker invested more than six per cent of its global sales into research and development. This R&D programme will continue positioning the company at the leading edge of advances in medical technologies of the future and consists in investments in projects firstly, at its AMagine Institute, which develops additive manufacturing products for three divisions - spine, craniomaxillofacial and joint replacement.

The second investment focusses on the neurovascular business, which develops stroke treatment products and thirdly, the Instruments Innovation Centre, which designs, develops and commercializes new and innovative surgical devices across a range of surgical procedures.

Announcing the news, Stryker’s Spencer Stiles, Group President, Instruments, Neurotechnology & Spine said: “Our team in Ireland has built considerable research and development and new product development capabilities through the partnership of multiple divisions, over the past twenty years, in an effort to serve multiple market segments. The continued growth and investment in Ireland is the result of many factors, inclusive of the RD&I support from IDA Ireland and the partnerships built with leading Irish universities and research centres. The support from Science Foundation Ireland has allowed access to incredibly talented engineers and scientists based in Ireland.”

Minister for Business, Enterprise & Innovation, Heather Humphreys welcomed the news. “This not only reflects the company’s commitment to Ireland, it is also a testament to our talented workforce. These RD&I projects are truly world leading, highly innovative and pioneering. Without a doubt, they have the potential to change the face of healthcare provision, reaffirming Ireland’s position as a global leader in the medtech industry.”

IDA Ireland Executive Director Mary Buckley congratulated the company. She said: “Stryker has always been at the cutting edge of innovation, constantly developing new technologies in the fast and ever-changing medical technologies sector. This €200m investment of scale demonstrates a strong commitment by Stryker to its Cork operations.

“Stryker is a major and valued employer in Cork, Limerick and the wider south region. This projects further embeds Stryker, offers exciting and challenging opportunities to best in class researchers, and positions Cork at the forefront of medtech innovation. Stryker is an exemplar of regional investment, with highly valued employment, investment in the wider economy through sub-suppliers and creating transformative engagements with the wider academic institutes. I wish the company every success with these projects.” Stryker has six locations in Ireland and employs over 3,500 people. The company celebrated its 20th anniversary in Ireland in 2018.

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