Covidien named top R&D investor

GLOBAL healthcare company Covidien has been named the EU’s top research and development & investor in the healthcare industry.

Covidien, the main executive office of which is based in Dublin, was given the accolade by the European Commission. &

The company, which ranked 64th among the EU’s top 1,000 companies, was also named Ireland’s second biggest private sector investor in R&D.

Covidien manufactures, distributes and services a range of products including medical devices, pharmaceuticals and supplies.

One of the largest private employers in the Midlands, Covidien employs more than 1,500 people in Ireland.

Donal Balfe, Covidien’s vice president of manufacturing, respiratory and monitoring solutions, said the company was proud to be on the scoreboard.

“Innovation is at the heart of everything Covidien does and the Company devotes significant resources to research and development.

“In the last five years, Covidien has nearly doubled R&D spending and introduced more than 100 new products. Our goal is that R&D will be 5% to 6% of sales in the next few years,” said Mr Balfe.

Covidien has 30 years of manufacturing history in Ireland, with production facilities in Athlone, Tullamore, Galway and Damastown, Dublin.