Medtronic

  • Medtech giant Medtronic is shutting down its Galway operation of Crospon, an Irish company that it bought just more than a year ago.

     The company told staff last week that it would close the site at the IDA Business Park at Dangan over the next 12 months. Production will move to other Medtronic facilities, including elsewhere in Galway city.

     Medtronic, the world’s largest maker of medical devices, bought the Irish business in December 2017 for a reported €38 million. Crospon specialises in devices for diagnosing gastrointestinal conditions.

     The company has confirmed to the Irish Times, that Crospon’s R&D operations will remain in Ireland.

    Medtronic is headquartered in Ireland although for practical purposes its base of operations remains in the US. Its acquisition of rival Covidien in a $50 billion (€44bn) deal in 2015 was the last big corporate inversion – a controversial arrangement that saw many US companies acquire businesses in Ireland and elsewhere in order to reduce their exposure to high US corporate tax.

    The company has a significant physical presence in Ireland, employing around 4,000 people.

  • Galway based medical device firm Medtronic is aiming to increase its production of ventilators, with a target of 1,000 weekly by the end of June.

    The company is reacting to a growing worldwide demand for the life-saving device during the Covid-19 pandemic.

    According to today’s Irish Times, Medtronic CEO Omar Ishrak said the company is continuing to increase ventilator manufacturing at its Galway city facility.

    It involves moving from 400 ventilators a week at the end of this month, to 700 weekly at the end of next month, and more than a thousand at the end of June.