The Grass Is Green for Medtech on the Emerald Isle

You don’t have to be a medtech veteran to have heard of Ireland’s ties to the industry. Still, even those who have spent years working in medical devices and diagnostics may be surprised to learn that 14 of the top 15 global medtech companies—including Boston Scientific, DePuy Synthes, Medtronic, Teleflex, and many more—have facilities in Ireland. Why Ireland? Just what is drawing medtech to Ireland? The country has gained recognition as a frequent target for corporate inversion deals that enable companies to fall under more favorable corporate tax rates, but a 12.5% tax rate is just part of what brings medtech companies to Ireland. According to Investment and Development Agency (IDA) Ireland, the country’s other assets include a talented workforce, a strong medical device regulatory and manufacturing history, an emphasis on STEM education, access to the European Union market, and a top research reputation. Ivan Houlihan, vice president, Life Sciences, at IDA Ireland, said “Tax is important . . . It’s a cornerstone of our value proposition, but it’s not the whole thing.” He added, “It’s really about the talent, it’s about the whole picture that Ireland can offer.” A map of Ireland provided by IDA Ireland shows just how many medtech hubs are scattered across the country. The areas around Dublin, Galway, Cork, Limerick, Sligo, Waterford, Athlone, and Letterkenny all boast medtech facilities, universities, and research institutions. Agency materials not...
Source: MDDI - Category: Medical Devices Authors: Tags: Medical Device Business Source Type: news