Cook Medical is planning to invest up to €16.5 million ($21 million) over four years to create R&D positions at its Limerick site with government support through IDA Ireland. The company employs more than 630 people in its Irish operations.
The investment will help establish a lab designed to enhance collaboration with doctors and clinicians, allowing for the development of new anatomical models for product evaluation and testing prior to commercial release. In addition, the investment will provide for the establishment of Cook Ireland as the key site for R&D for the Zilver product line.
"The IDA's continued recognition of the importance of R&D facilities for the future growth of the Irish Med Tech Industry and Cook Medical in particular is warmly welcomed," Bill Doherty, Cook Medical executive VP EMEA, says in a statement. "The IDA has been an outstanding partner of Cook Medical's over the past 16 years. Their support, coupled with R&D tax credits, has contributed to year-on-year growth and enabled target milestones to be achieved. This latest investment will help to future-proof Cook Medical's commitment to Ireland, enabling us to lead the development of the next generation of medical devices and continue the improvement of patient outcomes."
Separately, Cook is planning to set up three new offices and warehousing facilities in Mumbai, New Delhi and Chennai through its Indian arm, Express Healthcare reports. The news service also states that Cook will launch new products in heart care and women's health in that country.
- see Cook's release on the Irish funding
- check out more from Express Healthcare