Veryan announces multimillion euro investment in Galway

Veryan has announced a multimillion-euro investment at its Galway facility that will contribute to the further expansion and diversification of Veryan’s product portfolio beyond the BioMimics 3D Swirling Flow stent, marketed in Europe and USA to improve blood flow through arteries in the leg.

This investment is supported by the Irish Government through IDA Ireland.

Veryan opened its first Galway facility and hired its first employees in 2006 and was acquired by Otsuka Medical Devices (OMD) in 2018. Otsuka Medical Devices is a subsidiary of Otsuka Holdings. Since the OMD acquisition, the Veryan Galway workforce has grown from 11 to 46 employees in design engineering, development, supply chain operations, regulatory, quality assurance through to clinical operations, data management and finance. The investment is expected to create a further 20 full-time jobs in Galway associated with three development projects, two focussed on arterial intervention and one on a new treatment for venous disease.

Tánaiste and minister for enterprise trade & employment Leo Varadkar TD said: “I’m really pleased to see that Veryan Medical will be creating 20 additional jobs over the next two years with this significant new investment. This expansion demonstrates the company’s commitment to Ireland and will allow it to continue to benefit from the rich pool of talent in Galway and the surrounding area. I wish the team the very best for the future.”

Nick Yeo, chief executive officer of Veryan Medical, added: “Today’s announcement provides a very timely stimulus for our outstanding team, which has displayed remarkable resilience and perseverance during the COVID-19 pandemic. For more than a decade, our Galway R&D team has nurtured a culture of Design Intelligence and this investment will create exciting opportunities to add this value mark to the new products we are developing.”

In preparation for the expansion in operations, the Galway team recently relocated to the new Veryan Innovation Centre, a 15,000 sq ft facility at Parkmore Business and Technology Park, Galway, which has been designed to achieve the Gold standard in Leadership in Energy and Environmental Design (LEED) for green buildings.

Noriko Tojo, president and representative director of Otsuka Medical Devices, said: “We are grateful for IDA Ireland’s support of our R&D programme in Ireland, which is central to our activities to deliver innovative and unique endovascular technologies to patients and physicians. We look forward to continuing working with our talented colleagues in Ireland to achieve this ambitious goal.”