Boston Scientific (NYSE:BSX) will invest €30 million (about $34 million) in its Cork, Ireland facility, the Irish government announced today.
The Irish government supported the research, development and innovation (RD&I) investment through IDA Ireland. The money will go toward accelerating the development and manufacturing of minimally-invasive medical technologies that treat patients suffering from cancer and peripheral arterial diseases worldwide.
Boston Scientific will create 70 new engineering and production jobs in Cork over the next three years — on top of the 1,200 people employed at the site.
“This investment will allow the company to grow and develop its world-leading technologies and ensure that it continues helping to improve and save lives. Ireland is globally recognized as a center of excellence for the Life Sciences, and this investment is a real vote of confidence in us and our capacity,” said Leo Varadkar, the Irish tánaiste and minister for enterprise, trade and employment.
Martin Shanahan, the CEO of IDA Ireland, added that Boston Scientific has had a strong presence in Cork for nearly 25 years.
“As the company grows and expands into more therapeutic areas through internal RD&I and acquisitions, its continued investment in ongoing operations and highly skilled local talent is encouraging,” Shanahan said. “This expansion is further evidence of the southwest region’s thriving medtech cluster.”