Stryker today announced that it is to invest over €200 million in Research, Development and Innovation (RD&I) projects at three of its five Cork facilities as it continues its vigorous innovation journey to deliver next generation products and services across its Medical Surgical, Orthopaedics and Neurotechnology and Spine offerings. The RD&I projects are supported by the Irish Government through IDA Ireland.
Last year, Stryker invested more than 6% of its global sales into research and development. This R&D programme will continue positioning the company at the leading edge of advances in medical technologies of the future and consists in investments in projects at its:
- AMagine Institute, which develops additive manufacturing products for three divisions, Spine, Craniomaxillofacial and Joint Replacement
- Neurovascular business, which develops stroke treatment products
- Instruments Innovation Centre, which designs, develops and commercializes new and innovative surgical devices across a range of surgical procedures
Announcing the news today, Stryker’s Spencer Stiles, Group President, Instruments, Neurotechnology & Spine said: “At Stryker we are committed to making healthcare better for our customers and their patients. Our mission is driven by a collaborative focus, leveraging the knowledge and experience of our talent across the globe. Our team in Ireland has built considerable Research and Development and New Product Development (NPD) capabilities through the partnership of multiple divisions, over the past twenty years, in an effort to serve multiple market segments. The continued growth and investment in Ireland is the result of many factors, inclusive of the Research, Development and Innovation (RD&I) support from IDA Ireland and the partnerships built with leading Irish universities and research centers. The support from Science Foundation Ireland (SFI) has allowed access to incredibly talented engineers and scientists based in Ireland.”
Minister for Business, Enterprise & Innovation, Heather HumphreysTD welcomed the news saying: “I am delighted to see this substantial investment from Stryker at their sites in Cork. This not only reflects the company’s commitment to Ireland, it is also a testament to our talented workforce. These RD&I projects are truly world leading, highly innovative and pioneering. Without a doubt, they have the potential to change the face of healthcare provision, reaffirming Ireland’s position as a global leader in the MedTech industry. “
IDA Ireland Executive Director Mary Buckley congratulated the company saying: “Stryker has always been at the cutting edge of innovation, constantly developing new technologies in the fast and ever-changing medical technologies sector. These are exciting and ambitious RD&I projects and this €200M investment of scale demonstrates a strong commitment by Stryker to its Cork operations. Stryker is a major and valued employer in Cork, Limerick and the wider South region.
“This projects further embeds Stryker, offer exciting and challenging opportunities to best in class researchers, and positions Cork at the forefront of MedTech innovation. IDA Ireland continues to focus strongly on bringing investment to regional locations and Stryker is an exemplar of regional investment, with highly valued employment, investment in the wider economy through sub-suppliers and creating transformative engagements with the wider academic institutes. I wish the company every success with these projects.”