US-based medical technology company Stryker has announced plans to invest more than €200m in research, development and innovation (RD&I) projects in Cork, Ireland.
To be carried out at three of the company’s facilities in Cork, the projects are intended to yield new products and services in medical-surgical, orthopaedics and neurotechnology, and spine fields.
The Irish Government is supporting the projects via IDA Ireland.
Stryker Instruments, Neurotechnology and Spine group president Spencer Stiles said: “Our team in Ireland has built considerable research and development and new product development (NPD) 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 (RD&I) support from IDA Ireland and the partnerships built with leading Irish universities and research centres.”
AMagine Institute, which makes additive manufacturing products for Stryker’s Spine, Craniomaxillofacial and Joint Replacement units, is one of the Cork facilities that will house the RD&I projects.
The other facilities include the company’s Neurovascular business, which develops stroke treatment products, and the Instruments Innovation Centre involved in the design, development and commercialisation of surgical devices for a variety of procedures.
Commenting on the projects, IDA Ireland executive director Mary Buckley said: “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 invested more than 6% of its global sales in R&D last year. The company operates six locations in Ireland with a total of more than 3,500 employees