Central Bank of Ireland carried out review
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Pictured: Frank Ryan, CEO, Enterprise Ireland, Minister Richard Bruton, and Paddy Mulholland, managing director, VistaMed
Leitrim medical devices firm VistaMed is to create 79 new jobs as it invests €7.2m in research and development and the expansion of its production capacity.
The investment, which is being supported by the government through Enterprise Ireland, will increase the company’s R&D activities to ensure continued growth in export sales and Irish employment and also expand its manufacturing facilities in Carrick-on-Shannon.
Making the announcement this morning, Minister for Jobs, Enterprise and Innovation Richard Bruton said it is a significant day for the Irish economy. “As I have said before, in order to create the jobs we so badly need we must not only deliver high levels of multinational investment, but also create an indigenous engine of growth by driving a step-change in the performance of our domestic exporters. Indigenous exports provide three times more benefit to the Irish economy than multinational exports.
“Vistamed is an Irish company in a regional location taking advantage of Ireland’s excellent record in the multinational medical technology sector to drive innovation and employment growth. We need to see more of this, and in the government’s jobs strategy I will announce plans to build on this success to drive an indigenous engine of employment growth.”
Paddy Mulholland, managing director of VistaMed, said his company was founded on being a solution provider for technically challenging extrusion products and catheters for a worldwide market. “VistaMed has continued to develop it capabilities and today we offer a comprehensive design development and manufacturing of innovative catheter solutions. Our recent partnership with Helix Medical has further enhanced our ability to be a true global partner for our services for which we have seen strong demand internationally.
“This investment will allow us to add additional sophisticated equipment and expand our talented technical resources which will enable us to continue to offer a world class service.”
Established in 1998, VistaMed offers design, development and manufacturing of complex catheters and complimentary medical devices supported by a state of the art extrusion process manufactures complex medical tubing out of two manufacturing plants in Carrick-on-Shannon and Rooskey in Co Leitrim. The company employs 93 people in Leitrim and exports to the UK, Europe, America, South America and India.