Clonmel, 8th August 2011 – Boston Scientific Corporation (NYSE: BSX) and Irish Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, announced that the Company is investing €26 million in research and development at its Clonmel facility. The investment is supported by the Government through IDA (Industrial Development Agency) Ireland.
The investment will enable Boston Scientific to significantly expand its R&D and technical capabilities related to the design of the Company’s next-generation cardiac rhythm management devices manufactured at the Clonmel facility.
Participating in the announcement, Minister Bruton said, “I have repeatedly stated that if we are to create the jobs and growth we so badly need, we must relentlessly promote an innovation agenda. R&D investments by leading multinationals like Boston Scientific not only create high-value jobs, but also provide substantial spin-off benefits for Irish businesses, researchers and ultimately the economy. This investment is great news for Clonmel, and we must seize this opportunity to ensure that investments like this can be replicated across the country to create jobs and get the economy growing again.”
Brad Sorenson, Vice President of Operations for Boston Scientific, said, “This local funding will benefit our Cardiology, Rhythm and Vascular Group by enhancing our ability to provide R&D, design and manufacturing support for our leading medical device technologies. I am confident that, with the talent and expertise of our Clonmel staff, we can continue to successfully commercialize new life-saving innovations for our customers and their patients worldwide.”
“Boston Scientific is a major player in the medical technologies sector in Ireland and makes a substantial contribution to our economy each year,” said Barry O’Leary, CEO of IDA Ireland. “This R&D investment in Clonmel perfectly demonstrates the transformation agenda set out in IDA’s strategy Horizon 2020. IDA worked closely with the Company to secure this R&D investment and we look forward to helping to facilitate its future development plans.”
Boston Scientific established operations in Ireland in 1994 and is one of the country’s largest employers, with campuses in Clonmel, Galway and Cork.
About Boston Scientific
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
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