Business boost for Irish medical technology sector as 250 international visitors attend Enterprise Ireland Med in Ireland Expo 2011

Minister Bruton presents inaugural ‘Clinical Innovation’ award

250 medical technology and healthcare companies from 31 countries are in Dublin today (27th October, 2011) to do business with Irish companies at the Enterprise Ireland Med in Ireland Expo at the Convention Centre Dublin.

Pictured at the Med in Ireland are: Dr. Niall Davis, winner of the inaugural Clinical Innovation Award presented by Enterprise Ireland and Cleveland Clinic explains to Richard Bruton T.D. Minister for Jobs, Enterprise & Innovation, Frank Ryan CEO Enterprise Ireland how his proposed solution to enable safe catheterisation of the urinary bladder works.
Pictured at the Med in Ireland are: Dr. Niall Davis, winner of the inaugural Clinical Innovation Award presented by Enterprise Ireland and Cleveland Clinic explains to Richard Bruton T.D. Minister for Jobs, Enterprise & Innovation, Frank Ryan CEO Enterprise Ireland how his proposed solution to enable safe catheterisation of the urinary bladder works.

Over 930 commercial meetings are scheduled between 80 Irish medical technology companies and potential business partners from the USA, Japan, China, Europe, the Middle East and South America.  These one-to-one meetings will allow the international visitors to follow up on site visits they made earlier this week to companies located in 17 counties including Roscommon, Leitrim, Cork, Galway, Offaly, Dublin and Wexford.

Opening the event, Richard Bruton T.D. Minister for Jobs, Enterprise & Innovation said:

“The medical technology sector is an area of strategic strength in Ireland, and one which this government is targeting for the growth and jobs we so badly need. It is crucial that we not only build on the incredible base of multinational medtech companies already located in Ireland, but also ensure that Irish companies can start and grow in this sector to help create an indigenous engine of growth.

“This event presents tremendous opportunities for the sector - €55m in new business was generated for participating Irish companies from previous Med in Ireland events and with over 930 meetings arranged by Enterprise Ireland between international visitors and Irish companies, and 650 people in attendance, Med in Ireland 2011 looks set to surpass all expectations”.

Minister Bruton also presented the inaugural Clinical Innovation Award on behalf of Enterprise Ireland & Cleveland Clinic, USA to Dr. Niall Davis, a surgeon working in the Mid-Western Regional Hospital, Limerick. Dr. Davis has developed a new technique to ensure safer and more effective positioning of urinary catheters.

Presenting the award Minister Bruton said, “In addition to €15,000 to develop the commercial feasibility of this clinical innovation, Dr. Davis will have the opportunity to work with Enterprise Ireland and Cleveland Clinic to develop his idea into a marketable product. The commercialisation of publicly-funded research is a critical activity in our bid to increase economic growth and this is one of many projects designed to transform the output of State funded research into exportable products and services” he concluded.

Dr. Brian O’Neill, Lifesciences Manager at Enterprise Ireland pointed out that the Irish medical technologies sector is a vibrant and growing one which currently employs 25,000 people, up 7% on 2010, and attributed this success to Ireland’s cohesive and integrated medical technologies cluster.

“As a small country, Ireland has been able to bring together highly innovative indigenous companies, large well-established FDI multinationals, a continually developing world-class research base and strong links with the clinical community to create this rich and convergent landscape with world-class expertise across key sectors such as biopharma, medtech and ICT”, he said. “This ‘cohesiveness’ is now a key competitive strength internationally and Enterprise Ireland has organised Med in Ireland 2011 to capitalise on this and facilitate new strategic partnerships between Irish and international companies” said O’Neill.

One Irish company looking forward to doing business at Med in Ireland is Creganna-Tactx Medical. “We are scheduled to meet with over 60 individual companies and half of those companies will also tour our headquarters and manufacturing operations in Galway”, said Maura Leahy, Marketing Manager at Creganna-Tactx Medical.

“This event has always had a positive impact on our sales and growth in the past and 2011 will be no different - we expect to finalise a number of project and commercial discussions this week – many of which are multi-million opportunities for Creganna-Tactx Medical” she said.

650 people from this sector are expected to attend Ireland’s largest medical technologies event to focus on driving innovation in healthcare and the commercial opportunities that follow.

ENDS

Additional statistics about the medical technologies sector in Ireland and information on global healthcare trends is included in attached media briefing document.

For further information contact:

Grace Labanyi
Enterprise Ireland
Communications Officer

Grace Labanyi
+353 1 7272746 
+353 87 3286404