€190m profit for subsidiary of medical devices company

THE main Irish subsidiary of US medical device manufacturer Medtronic last year recorded pre-tax profits of €190.6 million.

According to accounts just filed by Medtronic Vascular Galway Ltd to the Companies Office, they show that the Galway -based firm recorded the profit after increasing revenues almost 10-fold from €76.7m to €753.4m in the 53 weeks to the end of April 30 last.

The company also recorded more than a seven-fold increase in pre-tax profits from €24.5m to €190.6m.