Plano's Integer Holdings investing $30 million in new Ireland medtech innovation center - The Dallas Morning News

A Plano medical device maker will invest $30 million in a new innovation and manufacturing center in Ireland as the medtech industry recovers globally from the COVID-19 pandemic.

Integer Holdings Corp. acquired land for the 60,000-square-foot facility in Galway from Ireland’s Industrial Development Agency, which seeks investment from foreign multinational companies. Integer is a contract manufacturer for some of medical technology’s biggest names, including Abbott, Boston Scientific and Medtronic.

The project is expected to begin next year and be completed in 2023. Integer also obtained permission for future expansion up to 147,000 square feet, said Payman Khales, the company’s president of cardio and vascular.

Integer has 15 manufacturing facilities globally and has had a presence in Ireland for more than 25 years. About 1,300 of its 7,500 workers globally are in Ireland, where the company has an existing research and development center in Galway and two manufacturing facilities.

The new medical device center is expected to create 100 to 200 new engineering, administrative and manufacturing jobs over the next several years, according to the company.

Increasing demand for research, development and manufacturing in the European region is driving the new expansion, Khales said.

“Constructing this new facility aligns with Integer’s portfolio strategy of investing to grow, which includes multiyear roadmaps to aggressively strengthen our business,” he said.

Fourteen of the 15 leading medical tech companies have facilities in the same region of Ireland, giving them access to research funded by the Irish government, expedited visas, assistance in recruiting local talent and tax credits when warranted, said Mary McEvoy, vice president of technology and consumer business services of IDA Ireland.

Integer is one of 40 Texas companies with facilities in Ireland. Others include Dell, Indeed and Grapevine-based GameStop, McEvoy said.

Integer manufactures equipment used in the cardiac, neuromodulation, vascular and portable medical markets, CEO Joseph Dziedzic said.

In the medical sector, its products include catheters, guidewires and implantable batteries for pacemakers. Nearly half of its business — 48% — comes from medical industry giants Abbott, Boston Scientific and Medtronic.

The company also serves the nonmedical sector by developing batteries for the energy, military and environmental markets, Dziedzic said.

The pandemic curtailed medical procedures using the company’s products, resulting in a 15% decline in sales last year to just over $1 billion, chief financial officer Jason Garland said.

But elective surgeries have rebounded this year.

‘Our sales did not go down as fast as medical procedures declined, and they didn’t rise as quickly as medical procedures recovered,” Garland said.

Still, Integer is projecting a 12% to 14% spike in sales this year, nearly returning the company to pre-pandemic levels. In its most recent quarter ending July 2, the company’s sales soared 30% to $312 million.

source: https://www.dallasnews.com/business/health-care/2021/10/13/planos-integer-holdings-investing-30-million-in-new-ireland-medtech-innovation-center/

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