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| Boston Scientific's Cork plant at the Cork Business and Technology Park, Model Farm Road, west of the city.
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Boston Scientific Corporation, the US medical devices company, today announced a plan to invest €21.7 million in a Research, Development and Innovation (RD&I) initiative at its site in Cork, with the support of IDA Ireland.
In 2009, BSC expects that more than a third of its revenue will come from new product introductions.
Tánaiste Mary Coughlan said: “Boston Scientific employs 5,000 people in Ireland. This investment by BSC, a renowned global corporation and a reference life science company in Ireland, is an enormous boost of confidence in the talent at its Cork site.
It further endorses Ireland’s capability to support next generation research, development and innovation at the vanguard of minimally invasive products. BSC has contributed very significantly to the Cork local economy since its establishment in 1998. This latest initiative will further enhance the site’s reputation within the parent corporation.”
No jobs information was provided.
Mark Paul, President of Boston Scientific’s Neurovascular business, said “The performance and success of our Cork site gave us the confidence that this is the correct setting and timing for this strategic investment.
The Irish Government’s foresight to create centres of excellence is a cogent strategy that is attractive to industry. The commitment to RD&I, through the involvement of both the Government and IDA Ireland, has resulted in a growing international reputation for success in the development of new leading-edge products. The investment we are announcing today will continue to strengthen our Company globally. We appreciate the support of IDA for this initiative.”
