Med in Ireland sees interest from 300 international buyers

100 Irish medical technology companies met with 300 international blue-chip company buyers from 40 countries at Enterprise Ireland’s biennial Med in Ireland event in the RDS in Dublin.

Med in Ireland showcases the entire spectrum of the Irish medtech sector and attracts interest from the international healthcare community.

The medtech sector in Ireland employs 40,000 people, making Ireland – per capita - the largest medtech employer in the EU. Ireland is one of the leading clusters for medtech product globally, and in 2018, Enterprise Ireland recorded 7% export growth to €1.73 billion for the life sciences sector in the twelve-month period.  

With over 300 medical technology companies in Ireland - of which 200 are indigenous - the event promotes Ireland as a globally recognised centre of excellence in medtech innovation and technologies. 

Med in Ireland 2019 hosted a dedicated Medtech Innovation Zone – highlighting what drives the success of Irish companies, from funding to collaboration with the research community. Ireland’s most innovative medtech companies demonstrated their new solutions for healthcare delivery to an audience of international buyers.

Speaking at the event, minister of state for trade, employment and business Pat Breen TD said: “Med in Ireland is a great opportunity for international organisations to engage with Ireland’s existing and emerging leaders across the design, research, development, prototyping, manufacture and marketing of highly innovative medical products and services. In Ireland we present a unique collaborative environment for industry with our vibrant network of highly innovative indigenous companies, large well established FDI multinationals, a continually developing world-class research base and a strong industry-focussed clinical community.

“We, in Government, know that collaboration is key to delivering innovation in the marketplace – and ultimately, the delivery of sustainable jobs. Through our Project Ireland 2040 and Future Jobs initiatives, we will continue to invest in initiatives through our agencies including Enterprise Ireland to build and strengthen linkages between SMEs, multinational enterprises and our tertiary education institutions.”

A number of Irish medtech companies marked Med in Ireland with new announcements.

Complete Laboratory Solutions (CLS) announced the creation of 100 new jobs in Galway over the next two years. CLS currently employs a workforce of 191 who cater for a portfolio of over 600 Irish and international clients.

Following an Enterprise Ireland led International Buyer Visit by Canadian Health Authorities to Ireland last year, Swiftqueue Technologies in partnership with MOBIA Technology Innovations has announced it has won an open competition to deliver a digital health transformation for hospitals in Newfoundland and Labrador in Canada.

Key Plastics, an engineering company based in Bray, Co. Wicklow and the Rotunda Hospital, Dublin, announced it has combined expertise to produce and launch The Umbifunnel - a purpose-designed, cord blood collection device which comprises of a collection funnel and stand. The Umbifunnel removes the need for needles and syringes which eliminates the risk of needle stick injuries and reduces the risk of the blood sample clotting.

Design Partners has announced an investment of €500,000 in innovative wearable technologies to deliver next generation medical devices and healthcare experiences.

Serosep Ltd, a microbiology diagnostics company, has confirmed clearance from the US Food and Drug Administration (FDA) for its EntericBio Dx Assay, as well as an agreement on distribution throughout the US.

Nova Leah, a cybersecurity solutions provider for medical device manufacturers, announced that it has achieved certification to ISO 9001 in recognition of its commitment to quality management systems and ISO 27001 for information security management.

Stephen Creaner, executive director, Enterprise Ireland said: “Ireland’s world class innovation and research ecosystem are now driving global market penetration for Irish made products and services. Enterprise Ireland has put a focus on facilitating successful partnerships, between indigenous Irish companies, globally reputable healthcare systems and medtech manufacturers.

“This event will help improve the efficiency of bringing new Irish medtech products and services to market to benefit and improve patient experiences all over the world.”