Leading medical technology company Stryker today announced that it is to invest over €200m in Research, Development and Innovation (RD&I) projects at three of its five Cork facilities.
Last year, Stryker invested more than 6% 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 at its AMagine Institute, neurovascular business, and its instruments innovation centre.
Spencer Stiles, Group President, said the company Is committed to making healthcare better for customers and patients.
He said: “Our mission is driven by a collaborative focus, leveraging the knowledge and experience of our talent across the globe. Our team in Ireland has built considerable Research and Development and New Product Development (NPD) 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 Research, Development and Innovation (RD&I) support from IDA Ireland and the partnerships built with leading Irish universities and research centres.
"The support from Science Foundation Ireland (SFI) has allowed access to incredibly talented engineers and scientists based in Ireland.”
Minister for Business Enterprise and Innovation Heather Humphries said she was delighted to see this substantial investment from Stryker at their sites in Cork.
“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.”
IDA Ireland Executive Director Mary Buckley congratulated the company saying: Stryker has always been at the cutting edge of innovation, constantly developing new technologies in the fast and ever-changing medical technologies sector.
“These are exciting and ambitious RD&I projects and 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, offer exciting and challenging opportunities to best in class researchers, and positions Cork at the forefront of MedTech innovation. IDA Ireland continues to focus strongly on bringing investment to regional locations."
Headquartered in Kalamazoo, Michigan, USA, Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better.
The company offers products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes.
Stryker has six locations in Ireland and employs over 3,500 people.