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The RFT Group wish you all a Happy Easter
01/04/2021 14:54
The RFT Group wish you all a Happy Easter 
IRISH TIMES NEWS: Medtech company Vasorum secures ?6m investment
03/03/2021 10:56

Medtech company Vasorum secures 6m euro investment

BGF takes minority stake in what is its seventh investment in Irish market in two years

Vasorum chief executive Dr Jim Coleman and BGF investor Mark Sykes.Photo: Chris Bellew /Fennell Photography

Vasorum chief executive Dr Jim Coleman and BGF investor Mark Sykes.Photo: Chris Bellew /Fennell Photograph

Dublin-based medical devices company Vasorum has secured a ?6 million equity investment from State-backed venture capital firm BGF.

The deal, BGF's seventh in the Irish market over the past two years, sees the firm taking a minority interest in the medtech company.

Founded and led by Dr Jim Coleman, Vasorum specialises in sophisticated devices used to close arterial punctures in vascular, cardiology, radiology and neuro-radiology procedure.

Its flagship product is the Celt Arterial Closure Device for femoral artery punctures, which has received FDA approval and been used in over 70,000 patients to date.

Vasorum, which is chaired by former SIAC Construction chief executive Finn Lyden, said BGF's investment will be used to accelerate the roll-out of the device in the US and to invest in new product development.

"Vasorum represents an exciting opportunity to scale a fast growth medical device business with globally leading technology," said Mark Sykes, an investor at BGF.

"Its Celt ACD already has industry-leading performance, and it is well advanced in new product development programs, which have the potential to revolutionise vascular closure in structural heart, ventricular assistance and endovascular aneurysm repair," he added.

BGF, formerly the Business Growth Fund, counts the State-owned Ireland Strategic Investment Fund and the main Irish banks among its investors. The other Irish companies it has backed in recent years are Croom Precision Medical, Action24Brindley HealthcareWinterbrookEdgescan and Team Accessories Limited.

BioConnect Ireland Medtech R&D
30/08/2012 11:22


Networking Event


Consumer genomics:   Tell me about me

Davenport Hotel, Dublin - Tuesday April 14th, 2015


Genomics is the study of genes and the totality of their interactions and functions.  The rapid expansion of information on individual genes and their role has created significant new knowledge which is being applied for many purposes.  For most of these applications the genetic information is supplied to professionals in healthcare testing, forensic and legal applications etc.   However, there is also a developing market for supply of genetic information and analysis directly to consumers.   Existing services include fitness, paternity testing, and tracing ancestry.  However, many other opportunities are likely to be offered in the future.  This meeting will review some of these opportunities and hear from companies and researchers involved.  It will also hear about a review of consumer reactions to some existing areas of consumer genetic testing.   

2.30        Registration

3.00        Welcome and introduction




·         Making your genes count: the importance of providing actionable information in consumer genomics

Dr Samantha Decombel

Chief Operating Officer and Co-Founder


·         Personalised nutrition - the food4me project

Dr Marianne Walsh

Project manager of Food4Me (www.,  University College, Dublin.


·         Trainspotters on Fishing Trips?  Early Adopters' Experiences of Consumer Genetics

Dr Teresa Finlay

Cardiff Centre for Ethical and Social Aspects of Genomics and Epigenetics (Cesagene)


4.30        Open Mike Session  (3-minute presentations) 


4.45        Q&A


5.00        Network Reception


Register NOW to attend this FREE event >>



Tactx acquisition beefs up Creganna's medical device capabilities
21/02/2010 20:43
January 2010
Creganna of Galway, Ireland, recently completed an acquisition that expands its technologies and services for minimally invasive medical delivery and access devices.

On Jan. 4, Creganna acquired Avalon Medical Services Pte. Ltd., which did business at Tactx Medical Inc. of Campbell, Calif. Terms were not disclosed. Together, Creganna and Tactx had 2009 sales exceeding $100 million.

Now known as Creganna-Tactx Medical, the company employs more than 800 and operates manufacturing facilities in Galway; Campbell; Marlborough, Massachusetts; Plymouth, Minnesota; and Singapore.

Prior to the acquisition, Creganna employed 550 and Tactx 270.

"This move represents a key step in Creganna's vision to build a leading global medical technology company," Helen Ryan, Creganna-Tactx Medical CEO, said in a statement.

Creganna-Tactx exhibited this week at the Medical Design & Manufacturing West trade show in Anaheim.

Abbott Gets European Approval For New Ovarian Cancer Diagnostic Test
19/01/2010 15:03

Abbott has received European approval for a new diagnostic tool, which studies show, can aid in determining the risk of whether a pelvic mass is benign or malignant. It is now available in Europe.

This blood test is expected to help in the assessment of epithelial ovarian cancer. This immunoassay, which will run on Abbott's Architect systems, is the first automated HE4 test available in the world, claims the company.

Research has shown that this novel diagnostic marker, combined with other tests such as the CA125 assay, can aid in measuring the risk of epithelial ovarian cancer in pre- and post-menopausal women who have a pelvic mass.

Michael Warmuth, senior vice president of diagnostics at Abbott, said: "The ability of this test to help physicians predict whether a pelvic mass is benign or malignant is an important development for both patients and physicians. Abbott's Architect HE4 test will aid physicians in determining the most appropriate treatment for their patients."

Abbott partnered with Fujirebio Diagnostics in the development of the assay. The test is now available in several European countries, as well as in some countries in Asia Pacific and Latin America. The Architect HE4 Assay was recently submitted to the FDA for 510(k) clearance.

Boston Scientific Initiates Patient Enrollment In WallFlex Biliary RX Stent Study
19/01/2010 14:52

Boston Scientific has reported that the first patient has been enrolled in a clinical trial to evaluate its WallFlex Biliary RX fully covered stent, for the treatment of benign bile duct strictures.

The multi-center, prospective study plans to enroll 187 patients at 11 centers worldwide over the next 18 months.

The trial will evaluate the removal of the stents from patients with benign bile duct structures as well as the effectiveness of temporary stenting for long-term, benign biliary stricture resolution. The study will include patients with bile duct strictures associated with post liver transplant anastomosis, prior abdominal surgery such as cholecystectomy and chronic pancreatitis.

The WallFlex Biliary RX Stent will remain in the patients four to 12 months depending on the nature of the stricture. Patients will be followed for five years after stent removal.

The Stent is constructed of braided, platinum-cored Nitinol wire (Platinol Wire) and features three key components, radial force to help maintain duct patency and resist migration, flexibility to aid in conforming to tortuous anatomies and full-length radiopacity to enhance stent visibility under fluoroscopy.

The Stents have received FDA clearance and CE Mark approval and are indicated for the palliative treatment of biliary strictures produced by malignant neoplasms. The company said that the safety and effectiveness of the system for use in the vascular system have not been established.

Abbott Presents Positive Three-Year Data On Bioabsorbable Stent Technology
18/11/2009 11:14

November 2009
Initiates large-scale international trial

Abbott has announced three-year data from the first 30 patients in the first phase of the ABSORB clinical trial, demonstrating that its fully bioabsorbable drug eluting coronary stent successfully treated coronary artery disease and was absorbed into the walls of treated arteries.

Patients in this first phase of the ABSORB trial experienced no stent thrombosis out to three years and no new major adverse cardiac events (MACE1) between six months and three years (3.6% at three years). These results were presented at the 2009 American Heart Association's Scientific Sessions.

Abbott is also initiating a large-scale trial called ABSORB EXTEND, which will enroll approximately 1,000 patients from up to 100 centers in Europe, Asia Pacific, Canada and Latin America. ABSORB EXTEND is a single-arm study designed to further evaluate the performance of Abbott's proprietary fully bioabsorbable stent technology. The study will enroll patients with more complex coronary artery disease and is slated to begin enrolling before the end of the year.

Abbott also announced that patient enrollment is complete for the second phase of the ABSORB trial. The second phase of the ABSORB clinical trial enrolled 101 additional patients from 12 centers in Europe, Australia and New Zealand, and incorporated device enhancements designed to improve deliverability and vessel support.

Abbott's bioabsorbable everolimus eluting coronary scaffold is made of polylactide, a proven biocompatible material that is commonly used in medical implants such as absorbable sutures. As with a metallic coronary stent, Abbott's bioabsorbable technology is designed to restore blood flow by propping open a clogged vessel, and to provide support until the blood vessel heals. Unlike a metallic stent, however, a bioabsorbable scaffold is designed to be slowly metabolized by the body and is completely absorbed over time.

Charles Simonton, divisional vice president of medical affairs and chief medical officer at Abbott Vascular, said: "Abbott continues to make advancements with its promising bioabsorbable technology. The second phase of the ABSORB trial enrolled very quickly, which is a testament to the excitement among the clinical community around the potential shown with this technology. We look forward to starting the ABSORB EXTEND trial to further evaluate promising attributes of our fully bioabsorbable technology in a broader patient population."

Abbott's Xience Prime, Xience V Obtain Additional CE Markings
04/11/2009 10:11

November 2009

For the treatment of patients with diabetes
Abbott has announced that Xience Prime everolimus eluting coronary stent system and the Xience V everolimus eluting coronary stent system have received additional new CE Markings covering the treatment of patients with diabetes.

In addition to diabetes, Xience Prime and Xience V also received CE Mark for expanded indications to treat patients that have complex disease, including dual vessels, small vessels. The expanded indications for Xience Prime and Xience V are based on randomized clinical trial data from the SPIRIT family of trials that support the safety and performance of the stents in these patient subgroups.

Both Xience Prime and Xience V leverage the outcomes from the extensive body of clinical evidence from the SPIRIT family of clinical trials. Most recently, data from the company's SPIRIT IV trial comparing Xience V to the taxus express paclitaxel-eluting coronary stent system were presented at the Transcatheter Cardiovascular Therapeutics (TCT) annual meeting in September 2009.

Charles Simonton, divisional vice president of medical affairs and chief medical officer of Abbott Vascular, said: "This expanded indication further confirms Xience Prime and Xience V as important options for physicians who are treating patients with diabetes. The deliverability of both devices provides physicians with confidence to easily reach the lesion site."

Medtronic Catapults Into Transcatheter Valve Market With Billion-Dollar Buys
02/11/2009 13:56

March, 2009 

The firm announced Feb. 23 that it will acquire CoreValve for $700 million, plus milestone payments, and earlier-stage Israeli firm Ventor Technologies for $325 million.

The deals are not a big surprise. Medtronic made its plans public last year to enter the nascent transcather aortic valve space, which some analysts project could become a billion-dollar-plus worldwide market in five years.

While the device giant already has some intellectual property covering percutaneous delivery of aortic heart valves, Medtronic was still years away from getting a product into pivotal trials on its own.

With CoreValve, whose CEO Daniel Lemaitre is a former Medtronic senior VP, and Ventor, Medtronic will be in a better position to compete with Edwards LifeSciences, which up until now has been the largest company with a transcather aortic valve.

CoreValve Ahead In Europe, Behind In U.S.

The purchase of privately-held CoreValve immediately makes Medtronic the market leader in Europe for minimally invasive aortic valves. CoreValve's ReValving percutaneous valve, inserted via the femoral artery, controls about 56% of the approximately $80 million-$100 million market against its only competitor, Edwards' Sapien.

But Medtronic will likely still lag well behind Edwards in the U.S., where transcatheter valves have yet to reach the market.

Edwards aims to complete enrollment of its 1,040-patient FDA pivotal trial this year and to launch Sapien in the U.S. before the end of 2011 (though some analysts believe 2012 is more realistic), whereas Medtronic projects a U.S. launch of its first transcatheter aortic valves - an offering each from the CoreValve and Ventor portfolios - in 2014.

The CoreValve deal includes plans for two $75 million milestone payments. The first is contingent on investigational device exemption approval for ReValving's approximately 1,100-patient pivotal U.S. trial by March 2010. The second depends on the product generating at least $150 million in revenue in Europe by December 2012.

Despite its market leadership in Europe, ReValving is only marginally profitable for CoreValve because the firm relies so heavily on third-party distributors. Medtronic does not immediately plan to adjust distribution channels for the valve, though a direct sales operation will be established over the longer term, according to Medtronic spokesman Daniel Beach.

"They have done an excellent job of building the necessary infrastructure to educate physicians and a lot of that is done through their distribution," he said in an interview. Physician education "is going to be as valuable to the long-term future of the transcatheter valve segment as the refinement of the technology."

Medtronic Gains Two Valve-Delivery Approaches

The deal for privately-held Ventor does not include milestone payments. But Medtronic says it plans to hit the ground running in initiating a U.S. pivotal trial for the investigational stage firm's Embracer transapical-delivered valve.

"Our focus for the moment is that we have an IDE approved as rapidly as possible," Beach said.

To compete with Edwards on all fronts, the goal is to launch Embracer domestically alongside ReValving in 2014, he explained.

Edwards' Sapien is available in Europe using two delivery approaches. It can be inserted transfemorally, beginning with an incision in the groin, or transapically, via a small incision in the rib cage. The former is performed primarily by interventional cardiologists and the latter by cardiac surgeons. Edwards' intricately designed U.S. trial is evaluating both approaches.

With ReValving limited to transfemoral delivery, Medtronic's ability to access the transapical market through Ventor is important, particularly since about 70% of patients needing valve replacements have anatomies that don't make them candidates for the femoral approach, Beach explained.

With smaller valve designs, the proportion of patients who are candidates for the percutaneous femoral artery procedure will substantially increase. But, Beach said, "Even when the devices get smaller, which they will with our planned second- or third-generation transfemoral approaches, there is still going to be at least 20% of the market that is going to need the transapical approach."

Farther back in Ventor's pipeline is a transfemoral valve technology that Medtronic plans to integrate with CoreValve intellectual property as well as Medtronic IP - providing a next-generation transfemoral product down the road, Beach noted.

The transcatheter aortic valve technology from CoreValve and Ventor also complements Medtronic's Melody transcatheter pulmonary valve, which is available outside the United States and slated to debut domestically by 2010.

Deals Validate Market, But Challenges Remain

While market analysts agree that Medtronic's move puts more pressure on Edwards, they generally also see it as a positive sign for the market.

For Edwards, "We see Medtronic's deals as more validation than increasing competitive risk," writes Morgan Stanley's David Lewis in a Feb. 23 research note. "This is a large market. Edwards has plenty of resources in valves ... to compete, and remains 2-3 years ahead in the U.S."

Wachovia's Larry Biegelsen points out that Edwards and Medtronic already compete in the surgical valve arena, where Edwards maintains a leadership position and where Medtronic has recently lost some market share. This "suggests to us that Edwards can compete effectively versus Medtronic," he writes Feb. 23.

But how the minimally invasive aortic heart valve market will play out is far from clear, particularly in the U.S., where the path to approval is perilous.

Edwards' PARTNER U.S. pivotal trial required a redesign mid-stream, causing the company to delay its target launch date from 2009 to 2011. And some cardiologists say the company will be challenged to get good enough mortality data to convince FDA of success in every arm of the pivotal trial.

Patients in the arm comparing transapical delivery and open surgery have a relatively large number of comorbidities, making it difficult to reach a statistically significant result, some point out. Also, a PARTNER U.S. investigator has voiced concerns that the mortality endpoint will be tough to reach in the arm comparing transfemoral valve delivery with drug therapy.

Medtronic will not be immune to clinical development challenges, either. "It is going to be necessary to develop an awful lot of clinical evidence for these valves," spokesman Beach acknowledged.

Further, the different product platforms each have inherent plusses and minuses. The ReValving device is ahead in the European market primarily because it is has a smaller profile compared with Sapien, and, thus, can be used in a greater number of transfemoral procedures. Edwards is developing a smaller diameter version of Sapien that it plans to have ready in Europe in 2010.

Both CoreValve's and Ventor's products are built on a nitinol stent frame, whereas Sapien has a stainless steel foundation. Nitinol allows the products to be self-expanding and to be retracted and repositioned during valve delivery. But FDA's prior experience with nitinol stents has led the agency to take extra care in checking for the likelihood of stent fractures, a matter that may be contributing to delays in getting the ReValving U.S. trial up and running.

The picture could become cloudier before it gets clearer as other big players enter the space. St. Jude Medical announced earlier this year its plans to initiate transcatheter aortic valve trials. While Johnson & Johnson also is developing transcatheter valves, some market watchers speculate that J&J could eventually seek to buy Edwards.

The Medtronic deals, says J.P. Morgan analyst Michael Weinstein in a Feb. 23 note, increase Edwards' "scarcity value, as its Sapien platform now represents the only remaining late-stage asset available for other players eyeing an entry."

That said, Weinstein doesn't expect an acquisition of Edwards to be considered until mid-2010 at the earliest, when there could be more clarity on the outcome of the Sapien pivotal trial.

Irelands newest pharmaceutical devices company, Blue Box Sensors spun out of NUI Maynooth
13/10/2009 10:39

July, 2009

NUI Maynooth has today announced the latest spin out from the University. Based on patented technology by Prof John Lowry, head of Chemistry Dept, Blue Box Sensors Ltd will manufacture devices that can track levels of chemicals in the brain in real time over the course of weeks or even months. The sensors offer fresh insights into the workings of the brain and stand to improve preclinical research and drug discovery for a range of diseases including Alzheimer's, Parkinson's and schizophrenia.

Speaking at the announcement, Prof Lowry explained how he started developing the sensors; "my initial aim was to develop electrodes to investigate and study the brain. Over the last few years, the focus has been on designing the chemistry of the surface of the electrode, to give selectivity for the molecule to be measured and validating the approach".  

According to John Scanlan, Director of Commercialisation at NUI Maynooth, the commercial potential of the sensor technology is already apparent, with interest being expressed from a number of leading pharmaceutical companies. "The management team we have pulled into Blue Box Sensors have been involved in selling the technologies that this sensor technology will replace," he commented. "They are close to the market, close to the customers and know the demand potential". He believes the company will grow organically, working towards building up a reputation within the industry and regulators, with the aim of replacing the standard practice of  microdialysis which is limited by not being real-time and by not being as sensitive.

Their eyes are also on a powerful stamp of approval, according to Scanlan. "The ultimate goal would be to have it FDA approved so that the FDA request data from Blue Box sensors, in the knowledge that the sensors provide the best data," he says.

The sensor devices will be manufactured in Galway.

Prof Lowrys original research was funded by Science Foundation Ireland and the commercialisation activity funded by Enterprise Ireland.

Eight of the world's 10 largest medical device companies are located in Ireland
11/10/2009 13:52

July, 2009
Eight of the world's 10 largest medical device companies are located in Ireland, with Europe's premier cluster of device companies based in the Galway region.

Examples of global companies with substantial operations include Abbott, Bayer, Becton Dickinson, Boston Scientific, Johnson & Johnson, Guidant, Medtronic and Stryker. The sector employs over 26,000 people in 130 companies and generates sales in excess of 6 billionEuro annually, with annual growth approaching 16 per cent. Over half of the medical technologies companies based in Ireland have dedicated R&D facilities.

This continued investment has stimulated the emergence of an indigenous cluster of over 100 innovation-led companies along the entire Medtech value chain - from R&D intensive technologies, to proprietary products, contract design and manufacturing, packaging and sterilisation. This has positioned Ireland as a world-class centre of excellence for medical devices.

Research-led Innovation

The Irish Government has committed to an 8.2 billionEuro investment in science and technology research up until 2013, funding centres of excellence like the 15 millionEuro Regenerative Medicine Institute (REMEDI), a world-class biomedical research centre focusing on gene therapy and stem cell research, and the 23 millionEuro Biomedical Diagnostics Institute (BDI), a multidisciplinary research institute focused on the development of next generation biomedical diagnostic devices.

Royal College of Surgeons in Ireland (RCSI) Colles Institute currently consists of three centres: the National Surgical Training Centre (NSTC) which provides education and training programmes in Ireland; the Centre for Innovation in Surgical Technology (CIST) which develops and commercialises surgical technology ideas from industry, clinicians, or researchers; and the Centre for Clinical Research and Development (CCR&D) which provides clinical research services to industry, clinicians and researchers.

Key Characteristics and Growth Areas

  • Cardiovascular: 80 per cent of global stent production is carried out in Ireland, with significant investment by Abbott, Boston Scientific, Guidant and Medtronic. The Galway Medical Devices Centre of Excellence (GMedTech) is actively focused on cardiovascular research in four key research topics: abdominal aortic aneurysms; cranial aneurysms; coronary artery disease and the venous system. Other areas of research include the human musculoskeletal system, dentistry, urology and reconstructive surgery.
  • Orthopaedics: Ireland hosts manufacturing facilities by industry leaders Stryker, J&J, DePuy and, most recently, a 50 millionEuro investment by Zimmer.
  • Diagnostics: Six of the top 7 global diagnostics companies are located in Ireland, including Abbott Diagnostic and Beckman Coulter.
1millionEuro to attract world-class researchers to Ireland (SFI)
30/09/2009 17:43

Minister Lenihan announces funding of almost 1millionEuro to attract world-class researchers to Ireland at the launch of the Science Foundation Ireland Annual Report 2008

Ireland continues to attract world-class researchers through SFI investment" - Lenihan

The Minister for Science, Technology & Innovation Mr. Conor Lenihan TD today (September 30th 2009) announced funding of almost 1mEuro to attract world-class researchers to Ireland through Science Foundation Ireland's Walton Visitor Programme. The Minister made the announcement at the launch of SFI's Annual Report for 2008.

Minister Conor Lenihan said "I am delighted that through the Science Foundation Ireland Walton Programme, Ireland is able to further enhance our reputation as a location for high-quality scientific research. With this funding of nearly 1mEuro, 16 top-class researchers have chosen to come to Ireland to carry out research with some of the world-class people we have here. Their collective efforts will benefit Irish industry and strengthen our connections with the international research community across the globe."

In launching the 2008 SFI Annual Report, Minister Lenihan said "By directly supporting 2,812 researchers and collaborating with over 300 companies SFI is playing a key role in the Irish economy and in the Government's strategy to build a Smart Economy."

"The Government, through SFI, is helping to further embed existing firms in the Irish economy as well as being a major magnet of attraction for the IDA in their efforts to secure additional foreign investments and growing employment opportunities in Ireland."

"The importance of SFI to our economy was further recognised by Government during 2008 when the SFI remit was also formally extended to include sustainable energy and energy-efficient technologies." the Minister added.

Chairperson of SFI, Professor Pat Fottrell, speaking on the SFI Annual Report's publication, remarked: "2008 was, in many respects, a defining year in SFI's journey to date. The year was one in which the importance of science, R&D, and investment in innovation was brought sharply into focus not just in Ireland, but globally too. The proposition that economic recovery is best initiated by having a sound and flourishing research base was one that gained currency over this period, and has been reflected, for example most notably, in subsequent investment by President Obama's administration. Also the positive endorsement of SFI's activities by Indecon International Economic Consultants in its 'Value for Money' report on SFI was independent, authoritative confirmation that we are on the right track and recording meaningful and measurable progress of benefit to Ireland".

Speaking on the SFI E.T.S. Walton Visitor Programme, Director General of SFI, Professor Frank Gannon said "Our host institutions around the country look forward to welcoming leading researchers from the UK, USA, Belgium, Germany, France, Singapore and Russia. Such a wealth of research talent coming to Ireland is of immense benefit to our own pool of researchers, and significantly raises our international standing."


Business Achievers Award for Crospon
24/09/2009 12:25

December, 2008

Crospon, a medical device developer based in Galway, has won a Connaught Business Achievers Award for 2008 in the 'Ones to Watch' category. Now in its 15th year, the Ulster Bank Business Achievers Awards aims to reward success at a provincial level before finalists go forward to an all-island awards ceremony. The regional winners were announced at a reception held on Wednesday 3 December at the Clayton Hotel, Galway.

Crospon Limited develops leading edge, minimally invasive medical devices for monitoring, diagnosis and therapy in the areas of endocrinology and gastroenterology.

Commenting, John O'Dea, CEO Crospon Ltd said, "We are absolutely delighted to have won the 2008 'Ones to Watch' Business Achievers Award for Connaught. The quality of the other companies on the shortlist underlines the merit of the Ulster Bank Business Achievers Awards. As a company, we will be looking forward to the national awards and hope to represent Connaught with distinction."

The company also announced that it has completed an additional ?500,000 funding round. This follows on from the announcement earlier this year of the completion of a ?3million round of financing.

Crospon secured an initial ?2.3 million seed funding secured in June 2007. This additional funding will be primarily used for the completion of development, manufacturing startup, and preparation to market the company's EndoFLIP® system that is used to enhance diagnosis and assist in the surgical treatment of gastroesophageal reflux disorder (GERD). The company also launched a new EndoFlip website The EndoFlip® system is the first of a range of products the company plans to bring to market.

In November, Crospon and HP's Smart Drug Delivery Patch was listed in Popular Science's magazines annual 'Best of What's New' for 2008. The Patch technology was one of just 11 detailed in the Health category.

Medtronic move to Galway from the US
22/09/2009 16:13

May, 2008

Medtronic annoucned plans for wordwide cuts in their staffing, in 2008. Up to 1,100 jobs worldwide are expected to go, which is almost 3% of it's workforce. Thankfully this comes with a good note for Jobs in Galway, as Medtronic are moving their endovascular manufacturing operation from Santa Rosa, California, USA to Galway . The endovascular division makes stent grafts to treat aortic abdominal aneurysms. It is also moving some of it's operations (diagnostic and cardiac rhythm disease management) to Holland.

Medtronic specialises in medial technology for chronic diseases. They manufacture products and therapies and services to alleviate pain and enhance peoples lives. Each year over 6 million people world wide use Medtronics services in the treatment of heart disease, diabetes and vascular illnesses.

Tánaiste announces major expansion of Cook Medical in Limerick with 200 new jobs and ?25 million investment
21/09/2009 21:50

May, 2008

Cook Ireland Limited

Irish Facility to be the sole global manufacturing site for new stent product

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD today (30th September 2008) announced that Cook Medical, one of the world's largest privately held medical device companies, is to invest ?25 million, with the support of Government through IDA Ireland, in the expansion of its medical devices manufacturing and services facility - Cook Ireland Limited - in Limerick. The investment will add 200 high quality jobs over the next five years. It will also establish the Limerick operation as the sole global manufacturing site for Cook's new drug eluting stent, Zilver PTX, for the treatment of peripheral arterial disease. This is the first time such a stent will be manufactured in Ireland.

Cook Ireland Limited established in the National Technology Park, Limerick, in 1996 where it currently employs 480 people in the production of devices for a range of medical areas including urology, gastroenterology, women's health and surgery. A number of European management roles are housed at the facility and the diverse range of manufacturing and services activities performed there include customer services, sales support, marketing, production, regulatory, distribution and R&D.
The Tánaiste, welcoming the investment, said "Today's news is another fantastic development for the thriving medical technology industry in Ireland. This is the 10th significant investment by a multinational company from the medical technologies sector in Ireland since the beginning of this year."

"It is superb news for the staff and management of Cook Ireland. The Irish facility has secured the manufacturing investment for a leading-edge product and will result in 200 new jobs in the company. Cook is a great company and its medical device products are at the forefront of technology. Since establishing in Limerick in 1996, the operation has seen continuous development well beyond its original mandate and this investment will add further strategic value and importance to the facility. The company has also undertaken collaborative R&D with University of Limerick and Dublin Institute of Technology, an area in which this Government is fully supportive'" the Tánaiste concluded.

Bill Doherty, Vice President of Cook's European business said "The Limerick facility's successful track-record in implementing and delivering a variety of projects over the past 12 years was a significant factor in Cook's decision to undertake this strategic investment at the site. As the investment forms part of our company's future international growth plans, it is essential that we have confidence in the ability of the chosen location to deliver to the strict deadlines and exacting quality standards required. We have that confidence in the Limerick team. In addition, our experience in Limerick demonstrates Ireland's ability to provide the right people - highly skilled and adaptable which are needed for the next phase of our development."

Parexel's cancellations double as profit growth stalls
28/04/2009 16:08
Parexel's cancellations double as profit growth stalls By Nick Taylor, 28-Apr-2009 Related topics: Clinical Development, Phase I-II, Phase III-IV Parexel posted a doubling in cancellations in Q3 of its fiscal year, with profits remaining flat as an eight per cent boost in service revenue was offset by higher operating expenses. Contract research organisations (CRO) have been hit hard by project cancellations, with PPD and Kendle recording unprecedented levels, and Parexel has also suffered. Parexel's cancellations rose to $95.8m (?73.5m) in Q3, up from $49.5m in 2008, and new business remained flat at around $425m. These figures are indicative of the challenges facing CROs but Josef von Rickenbach, Parexel's CEO, is positive about the results. He said: "The company's positive quarterly results were a clear reflection of the determined focus by our employees to control costs and achieve both our financial and operational targets. "I am proud of our staff's ability to grow service revenue and expand operating margins in today's challenging environment. In addition, we were able to generate a very respectable level of new business wins in the quarter, despite some market headwinds." The financial market has responded favourably to the results, which included an increase in profit forecasts for 2009 that helped the company's share price gain 15 per cent.

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