Covidien announces R&D investment with NUI Galway

A multinational medical firm today announced a €900,000 investment in research and development projects with NUI Galway.

Covidien, a global supplier of healthcare products, has teamed up with NUIG to carry out scientific experiments to promote wound healing and tissue regeneration and to test new compounds and medical devices.

The funding, over the next two years, is the first phase of a €1.8m investment with Irish academic institutions announced in July.

Covidien’s Scott Flora said the medical devices sector in Ireland has a legacy of innovative products and is of critical importance to the country’s economic recovery.

“We believe the medical devices and health sectors will be a thriving part of Ireland’s business growth and high-technology job creation in the future,” said Mr Flora.

Through the programmes, Covidien aims to incentivise students to choose science as a career and promote the continued growth and prosperity of the medical devices sector in Ireland.

Professor Terry Smith, vice president for research at the university, said the investment acknowledges the part which Irish expertise plays in translating research from the bench to the clinic.

Health Minister Mary Harney added: “University-based facilities enabled by this collaboration with Covidien will help to ensure that Ireland continues to produce high-quality researchers who can innovate new technologies and design robust scientific research.

“This ultimately produces the valuable data that furthers patient health and safety.”

The project involves a number of research groups based in the National Centre for Biomedical Engineering Science (NCBES) at NUI Galway, including the Network of Excellence for Functional Biomaterials (NFB) and the Centre for Pain Research (CPR).

Covidien is a leading global healthcare products company which manufactures, distributes and services a diverse range of industry-leading product lines including medical devices, pharmaceuticals and medical supplies.

Earlier this year, it announced an investment of €11m in a state-of-the-art European Services Centre in Cherrywood, Dublin, which employs 200 people.

Barry O’Leary of IDA Ireland, which held talks with Covidien to establish three programmes, said Ireland is recognised as a key global hub for medical technologies, employing the highest medical technologies personnel per capita in Europe.

“Nearly 60% of the sector’s companies are now carrying out R&D functions here and today’s announcement is another great example of how the unique collaboration between Government, industry and academia in Ireland can assist global companies such as Covidien to meet their R&D needs,” added Mr O’Leary.