Minister for Research and Innovation, Sean Sherlock, TD, today announced an increased R&D investment by Stryker Instruments at its facility in Carraigtwohill, Co Cork, which will see the Irish facility playing a leading role in the development of new surgical technologies for bone and soft tissue cutting and repair.
The $30M investment by Stryker will see the Cork plant developing the next generation of surgical devices for global markets. The Cork R&D facility will partner with its headquarters in Kalamazoo, Michigan and several other Stryker businesses to develop technologies that will be used in a range of medical procedures as hospitals globally seek new and innovative solutions to medical care challenges.
The investment, supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland, will create 20 additional R&D positions over the next 4 years. The investment is part of a long standing commitment to Ireland by Stryker.
The products and technologies being developed will reduce surgery time, increase operating room efficiency and improve accuracy and precision in neuro, spine, ENT, arthroscopy, general surgery and total joint arthroplasty procedures.
Making the announcement, Minister Sherlock said:
“A central part of the Government’s plans for jobs and growth is better targeting the State’s €500million annual spend on R&D towards commercial outcomes and jobs. Since taking office, we have implemented a series of changes, including a research prioritisation process and a one-stop-shop to help commercialise ideas arising from State-funded research.
“Today’s announcement that Stryker is investing an extra $30million in R&D activities with the creation of 20 new high-end jobs is great news and a strong indication of what is possible in this area. Through continued implementation of the Action Plan for Jobs, I am determined to ensure that we derive greater benefit from our R&D activities so that we can turn more good ideas into good jobs and support the employment growth we need”.
Welcoming the investment today, Stryker Instruments president Jim Heath said: ``We are excited about this important investment in our R&D efforts and the continued support of the IDA as we work to provide new technology to our customers.”
The Chief Executive Officer of IDA Ireland, Mr Barry O’Leary said: ``IDA Ireland welcomes Stryker’s decision to increase the mandate of its Irish operation. The products being developed in Ireland have the potential to significantly impact the efficiency with which surgical procedures are carried out. Ireland enjoys a strong global reputation as a leading location for R&D in the life sciences sector and this reputation is further enhanced with Stryker’s decision, complementing IDA’s strategy to promote transformation within its existing client companies.’’
For further information, please contact IDA Press Office; Antoinette Tyrrell, Mob: +353 (0) 87 7572053
Source IDA