Galway couple collect $5.5m from sale of firm

A GALWAY couple have bagged $5.5 million from the sale of their medical devices company to a US firm, the Irish Examiner has learned.

John and Caroline O’Dea have sold their company, Caradyne Limited, to the Nasdaq-listed Respironics for cash and will also receive shares in the American firm.

Caradyne was founded by Mr O’Dea in 1998 and manufactures specialised respiratory therapy equipment at its plant in Galway. It products are sold through the US, Ireland, Britain and Europe.