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Employee numbers on target have risen almost four-fold in just 18 months (going from approx. 45 – approx. 170 employees in 18 months)
Croom Medical, a medical device manufacturing business which manufactures orthopedic medical implants for a series of blue chip multinational companies today opens a new multi-million euro manufacturing facility in its home town of Croom, County Limerick. The company has invested over €12 million in the new facility. The company has also announced plans to develop a further manufacturing facility in the area which is expected to open in 2023.
The company also confirmed that it is on course to recruit an additional 80 team members this year with more expected in 2023. Just a year ago (July 2021) the company employed 45 people but that number is on target to rise to 170 by the end of this year as it scales up its operations in response to rapidly growing demand.
The opening of the new facility today will be attended by Minister Niall Collins, Minister Patrick O’Donovan, Tom Kelly, Head of Cleantech, Electronics and Life Sciences at of Enterprise Ireland, staff of Croom Medical and representatives of key clients.
Croom Medical was set up by Paddy Byrnes in 1984 and focuses on the machining and handling of precious metals for use in a sterile environment. The company is now led by CEO, Patrick Byrnes (son of the founder) who joined in 2018.
Croom Medical CEO Patrick Byrnes said that the company has experienced rapid growth on the back of significant investment in research, development and innovation in medical device manufacturing technologies over the past four of years. He said: “Our state of the art facility hosts some of the most advanced manufacturing technologies in Ireland. We have made a number of strategic investments in Additive Manufacturing (3D Printing), Advanced Machining Centers and Automation. Our team is looking forward to increasing our footprint to facilitate 80 new high value roles in order to meet customer demand on a global level.”
The company is located close to a hub of global medical device manufacturers who have significant operations located in the South and West of Ireland. The company has longstanding relationships with a number of these international players including several household names in the MedTech sector.
In 2020, Ireland’s leading Growth Capital Investor, BGF, announced a multi-million investment in a minority position in the company. Enterprise Ireland is also a shareholder in the business. At the time of the BGF investment, Michael Maher, former Chief Operating Officer of Glen Dimplex, was appointed as Non-Executive Chairman. Mr. Maher was a co-investor alongside BGF in that year’s capital raise.
Minister Niall Collins said “This is a superb business which is a wonderful tribute to the Byrnes family and to the hard work which Paddy and now Patrick and the team have put in to grow the business from humble beginnings to an significant presence in a vital part of the international healthcare sector.”
Minister Patrick O’Donovan said; “Croom Medical is achieving rapid growth because of the excellence of its products and services and the investment which it has made in its own business through the years. It’s wonderful to mark the success of this Limerick enterprise and to hear them talk already of further growth to come in the years ahead. ”
Tom Kelly, Divisional Manager - Industrial and Life Sciences at Enterprise Ireland said: “Croom Medical is an excellent example of an Irish company that has successfully implemented an agreed growth action plan while meeting the multifaceted needs of its customers across the world, and willing to bring in external growth capital to drive this plan. Enterprise Ireland is delighted to have supported Croom Medical along its growth trajectory, and we are proud to support the company with its ambitious expansion plans announced today which will create 80 high value new jobs in Limerick.”