10 January, 2011
An Irish-owned medical technology firm is to create 70 jobs in Wexford under a major expansion plan, according to the Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD.
ClearStream Technologies in Enniscorthy will create the new jobs over the next three years in product engineering, research and development, manufacturing, and sales and marketing.
The jobs are part of a three-year expansion plan which is supported by the Government through Enterprise Ireland.
ClearStream Technologies, which employs 230 workers, designs and manufactures medical devices such as catheters and stents.
Enterprise Ireland's investment will support a dedicated research and development centre, new product development, production facilities and management development training.
Announcing the jobs, Minister O’Keeffe described the investment as a strategically important boost for Ireland's medical technology sector.
‘ClearStream Technologies is among the firms driving Ireland's reputation as a world-leader in medical technologies.
‘Already, 15 of the world's top 20 medical devices companies are based in Ireland and, as an indigenous firm, ClearStream Technologies is demonstrating an important shift towards higher-end research and evelopment activity in the life science sector.
‘The 70 high-quality jobs will bring huge economic dividends to Wexford and the broader south-eastern region,’ said Minister O'Keeffe.
The chief executive of ClearStream Technologies, Andy Jones, said: ‘We are currently embarking on phase two of the expansion to our production capacity to meet the growing demand for the latest generation of our products.
‘This support from Enterprise Ireland will undoubtedly help us in achieving our ambitions for continued growth and improved margins over the next three years.
‘In particular, we intend to seek out new technologies and invest in further research and development for the future and we expect the newly created position of chief technology officer to be key to this growth.’
The chief executive of Enterprise Ireland, Frank Ryan, said: ‘Investment in research and development is critical to the continued global success of Irish exporting firms, particularly those in technology-led sectors such as medical technologies.
‘Enterprise Ireland is proud to support ClearStream in their latest significant programme of investment.
‘ClearStream is a significant Irish firm, not just in terms of the valuable employment it provides in the Wexford area but also as a key player in Ireland's life sciences sector.
‘We look forward to continuing to support this significant contributor to the Ireland's smart economy.’
About ClearStream Technologies
ClearStream Technologies Group plc is an innovative maker of medical devices used in interventional procedures including bare metal and drug eluting stents and balloon catheters. Its products are sold under ClearStream's own brands and they are supplied to Original Equipment Manufacturers. The firm is listed on the AIM market of the London Stock Exchange.
For more information contact:
Tel: +353 1 7272284
Mob: +353 87 2043435