Merit announces 200 new jobs for Galway
Taoiseach Enda Kenny TD and Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary medical devices used primarily in cardiology, radiology and endoscopy, announced the creation of 200 new jobs over five years at the official opening of its new €20m facility at the Parkmore Business Park East, Galway. The investment is supported by the Irish Government through IDA Ireland.
The new investment will allow the expansion of R&D and other activities at its Merit Medical Ireland subsidiary. The new jobs created will be in R&D, shared services, operations support and manufacturing, with at least 30% of the new jobs being for third-level graduates. The new facility is approximately 75,000 square feet and more than doubles the capacity of Merit in Galway.
Making the announcement Taoiseach Enda Kenny TD said, “The announcement by Merit of 200 jobs in Galway is great news for the area and a real vote of confidence in the company's workforce and management. It is also a significant endorsement of Ireland as a location for investment and highlights the importance of economic stability. The Government will continue to work hard to implement the Action Plan for Jobs so that we can build on positive investment announcements like today's and attract the growth and jobs the country needs to recover. I would like to pay tribute to Merit and IDA Ireland for bringing this development to fruition.”
Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer, said, “Our high level of satisfaction with our Galway facility’s ability to take on new challenges and its successful track record in developing new products over the past 16 years were major factors in implementing this crucial investment there. In addition, we believe the proven commitment of the Irish management team and workforce will help to ensure that these latest developments will be implemented successfully and result in the facility increasing its already significant role in our global business.”
Welcoming the announcement IDA Ireland CEO Barry O’Leary said, “This IDA Ireland supported investment is an important endorsement of the Galway operation which has proven itself to be a key strategic location for the parent company. Merit is an excellent employer in the West and is a key component of the medical device cluster operating successfully from the region. Ireland boasts an enviable cluster of medical device companies with 17 of the top 25 global medical device companies having a significant presence here. ”
Merit is a worldwide designer, developer, manufacturer and marketer of medical devices used in interventional and diagnostic procedures. This investment is part of Merit’s strategy to sustain its competitive advantage through the further redesign and development of a number of new product lines. The additional state-of-the-art facility in Galway will be designated the centre-of-excellence for some of Merit's new products and technologies in addition to already being Merit's designated centre-of-excellence for guide wires.
Merit’s Galway facility at Parkmore West was established in 1996 and currently employs 379 people. This number has increased by 40% over the last two years and is expected to increase further. Its successful development of a number of new products in the guide wire range led to its designation as the centre-of-excellence for guide wire technologies. Over the years, the facility has grown and developed and is now the principal manufacturing site for another of Merit’s products - inflation devices - which are non-invasive devices used in angioplasty cardiology procedures.
About Merit Medical Systems, Inc.
Merit Medical Systems, Inc. (MMSI) produces disposable medical devices used in hospitals worldwide. Merit employs approximately 2,400 people worldwide with facilities in Salt Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Copenhagen, Denmark; and Rockland, Massachusetts.
About Merit Medical Ireland
Founded in 1994, Merit Medical Ireland Limited [MMIL] based in Parkmore, Galway is engaged in the development manufacture of a number of key products for Merit Medical Systems, Inc. MMIL has been involved in R&D since 1997. Products developed include InQwire® Guide Wire, Merit MAK™ Mini Access Kits and introducer wires. It also manufactures the BasixCOMPAK™ Inflation Syringe and hemostasis valves. Merit is the market leader in these products with 40%-50% of the world market share. MMIL has also expanded its shared service operation and is responsible for providing general, financial and operational management to all Merit European operations.
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