Stryker to invest hundreds of millions of euro in research
Conor Trindle 14 Jun 2019, 22:04 GMT+10
Three of the company's plants in Cork will benefit from the €200m R&D program
Stryker's products are in the Orthopaedics, Medical and Surgical, and Neurotechnology and Spine sectors
The company has six locations in Ireland and employs over 3,500 people
CO.CORK, Ireland - Stryker is to invest over €200m in Research, Development and Innovation projects at three of its five Cork facilities.
The company said in an announcement on Thursday it is on a journey to deliver next generation products and services across its Medical Surgical, Orthopaedics and Neurotechnology and Spine offerings.
Last year, Stryker invested more than 6% of its global sales into research and development. This R&D programme will invest in projects at its AMagine Institute, which develops additive manufacturing products for three divisions, Spine, Craniomaxillofacial and Joint Replacement; its Neurovascular business, which develops stroke treatment products; and its Instruments Innovation Centre, which designs, develops and commercializes new and innovative surgical devices across a range of surgical procedures.
"Our team in Ireland has built considerable Research and Development and New Product Development capabilities through the partnership of multiple divisions, over the past twenty years, in an effort to serve multiple market segments. The continued growth and investment in Ireland is the result of many factors, inclusive of the Research, Development and Innovation support from IDA Ireland and the partnerships built with leading Irish universities and research centers. The support from Science Foundation Ireland has allowed access to incredibly talented engineers and scientists based in Ireland," Stryker's Spencer Stiles, Group President, Instruments, Neurotechnology & Spine said Thursday.
Minister for Business, Enterprise & Innovation, Heather Humphreys said: "I am delighted to see this substantial investment from Stryker at their sites in Cork. This not only reflects the company's commitment to Ireland, it is also a testament to our talented workforce. These RD&I projects are truly world leading, highly innovative and pioneering. Without a doubt, they have the potential to change the face of healthcare provision, reaffirming Ireland's position as a global leader in the MedTech industry."
IDA Ireland Executive Director Mary Buckley added: "Stryker has always been at the cutting edge of innovation, constantly developing new technologies in the fast and ever-changing medical technologies sector. These are exciting and ambitious RD&I projects and this €200m investment of scale demonstrates a strong commitment by Stryker to its Cork operations. Stryker is a major and valued employer in Cork, Limerick and the wider South region. This projects further embeds Stryker, offers exciting and challenging opportunities to best in class researchers, and positions Cork at the forefront of MedTech innovation."
Headquartered in Kalamazoo, Michigan, in the U.S., Stryker is one of the world's leading medical technology companies. The company's products are in the Orthopaedics, Medical and Surgical, and Neurotechnology and Spine sectors. The company has six locations in Ireland and employs over 3,500 people. Last year Stryker marked its 20th anniversary in Ireland.