Buyout to help safeguard Boston Scientific jobs

THE US-owned healthcare company Stryker is to take over part of Boston Scientific’s operations in Cork.

Styker, who already operate plants in Carrigtwohill, announced yesterday that the move was part of a €1.08 billion buyout of Boston Scientific’s European neurovascular division, which produces products for the minimally invasive treatment for haemorrhages and strokes.

The news of the buyout was welcomed by Minister for Enterprise, Trade and Innovation, Batt O’Keeffe, who said it would secure jobs in Boston Scientific’s Cork plant.

“The move means that two global medical technology firms are consolidating in Cork with no reduction in staff numbers.

“Boston Scientific is committed to the Cork operation and Cork will form part of the firm’s future growth and investment plans,” Mr O’Keeffe said.

He added that Stryker will put some of its international business into the Boston Scientific plant, thus safeguarding jobs and underpinning the local economy.

“This is a win-win for all parties and a new chapter for the medical technology sector in Cork,” Minister O’Keeffe said.

He is currently in the US west coast region for a series of top-level meetings with leading multinational firms in an effort to draw fresh investments to Ireland.