Medtronic, Germany’s Phenox to open new plants in Ireland

Medtronic (NYSE:MDT) and German medical device maker Phenox are each planning to open new manufacturing plants in Galway, Ireland.

Fridley, Minn.-based Medtronic said it plans to spend about $14.3 million (€13 million) building a new, 20,000-square-foot facility will be used to make its In.Pact Admiral drug-coated balloon. The plant is expected to employ about 100 workers, the company said.

“Since launching the In.Pact Admiral DCB in the U.S. market, it has quickly become the fastest adopted DCB technology. In fact, our global market leadership in DCB is driving the need to open the new facility here in Galway to provide more patients access to this highly efficacious and safe treatment option for peripheral arterial disease. Our Galway operations and staff have very specific expertise in this area, which is the platform for this announcement. Once fully operational, this facility will be the only DCB manufacturing area of its kind in Medtronic worldwide. Our organization is on an expansionary path, with a notable amount of this growth to be fuelled by products coming out of Ireland,” aortic & peripheral vascular president Tony Semedo said in prepared remarks.

Bochum, Germany-based Phenox’s new Galway plant is slated to make interventional neurovascular medical devices for the treatment of aneurysms and stroke. Founder & managing director Hermann Monstadt told the Irish Times that the facility “will produce products specifically for the U.S. and other international markets as well as provide additional support for EU markets.”

Phenox employs about 130 workers, according to the newspaper.

The post Medtronic, Germany’s Phenox to open new plants in Ireland appeared first on MassDevice.

from MassDevice http://ift.tt/1I3HcJC