Minister Bruton Announces 40 New Jobs inTipperary
Irish Medical Devices Firm TECHNOPATH Announces €3m investment
The Minister for Jobs, Enterprise and Innovation Mr. Richard Bruton T.D today (25th May 2012) announced that the Irish medical devices company TECHNOPATH is to create 40 new jobs in Ballina, Co. Tipperary.
The announcement was made on the back of a €3 million investment to scale their manufacturing capability and drive export activity supported byEnterpriseIreland.
This investment is being made in the Quality Control division which manufactures products for a number of multinational in-vitro diagnostic companies. TECHNOPATH products monitor the quality of hospital laboratory blood tests (e.g. cholesterol, cancer markers, cardiac markers) and prevent the reporting of incorrect results thus ensuring optimal patient care.
Making the announcement Minister Bruton said:
“A central part of the Government’s plan for jobs and growth is creating a powerful engine of indigenous enterprise. Over recent years we have established major strengths in key sectors such as ICT and life sciences – we must now build on this to get more indigenous companies growing to scale, exporting more and creating more jobs.
“Today’s announcement by Technopath is great news forTipperaryand the indigenous life sciences sector inIreland. Through continued implementation of the Action Plan for Jobs, I am determined to ensure that we can see more announcements like this around the country over the coming years.”
TECHNOPATH co-founder, Mr. Malcolm Bell, added: TECHNOPATH’s breakthrough technology is the culmination of a 5-year programme of research & development and €6m investment. We have developed a number of proprietary technologies, launching our first product in this division less than four years ago.
“Our long-term growth strategy is to develop niche, innovative, breakthrough technologies and to deploy these technologies globally. With our current partners and channels we expect to bring the benefit of enhanced quality and significant cost savings to 20% of patients around the world in the next 24 months.
“This is exemplified by our recent global product development, supply and distribution agreement with Abbott Diagnostics. The products under this agreement will be TECHNOPATH branded and Abbott will be an exclusive distributor of these products for its ARCHITECT customers worldwide. TECHNOPATH is actively developing a number of additional innovative products for the global biopharmaceutical and dairy sectors that can address the significant un-met needs of these industries.”
The Technopath Group is a privately held company that services the healthcare and biotechnology sectors in five continents. Turnover in 2012 is experiencing 25% yearly growth.
The group was founded in 1997 with the establishment of Technopath Distribution Ltd which currently represents some of the most innovative brands in healthcare and biotechnology including Biolog, Terumo,Hitachi, Kimberly Clarke and 3M.
Technopath Manufacturing Ltd was established in 2005 and operates from custom-built GMP facilities in Ballina, Co.Tipperarywhich are FDA registered and certified to the Medical Devices Standard ISO 13485. Services include the development of bespoke quality control materials and plasma components for the In Vitro Diagnostic industry.
TECHNOPATH products monitor the quality of hospital laboratory blood tests (e.g. cholesterol, cancer markers, cardiac markers) and prevent the reporting of incorrect results thus ensuring optimal patient care. With our current partners and channels we expect to bring the benefit of enhanced quality and significant cost savings to 20% of patients around the world in the next 24 months.
The Technopath Group has an intense R&D portfolio and emerging IP pipeline. For more information please visit www.techno-path.com.