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Mood healthy in Irish med-tech sector

Thursday, September 27 10:47:26

Ireland's fast-growing Medical Technology Sector is seeing higher levels of confidence in the future with CEOs looking to further growth in the industry this year and next.

A new survey by the Irish Medical Device Association (IMDA) today found that 78pc of medical technology companies in Ireland said they have confidence in their own business - an increase of 8pc on last year.

Meanwhile, 60pc of companies are positive about the current business environment.

With over 200 medical technology companies in Ireland, both domestic and FDI firms, the medical technology sector continues to be leading player in Irish economic recovery exporting E7.3n worth of product annually and employing 25,000 people.

This is the highest number of people working in the industry in any country in Europe, per head of population.

Today's survey marks the launch of the 2012 Medical Technology Excellence Industry Awards which are jointly hosted by Enterprise Ireland and IDA Ireland.

"Over the last eighteen months medical technology companies have announced investment of approximately E244m and the creation of an estimated 1500 jobs in Ireland over the coming years. Today's survey results underpin the rationale for this investment and job creation. The role of the Medical Technology Excellence Awards which we are launching today is to recognise individuals and companies who are leading the way within the sector and allow them special recognition amongst their peers," said Sharon Higgins, IMDA Director.

Now entering its sixth year the Medical Technology Industry Excellence Awards are currently open and a shortlist of companies will be revealed in November. Any company that is a member of the IMDA, Enterprise Ireland or IDA Ireland is eligible for entry.

Overall Medical Technology Company of the year in 2011, Margaret Stokes Production Manager, Cook Medical outlined the very real benefits for companies considering entering the Awards.

"Winning the overall Medical Technology Company of the Year Award provided our Company with national and international recognition from both the media and the medical technology sectors. It also provided a significant boost for our staff at our headquarters in Limerick to see Cook Medical showcased as well as adding additional value to our brand for prospective employees. We would highly recommend companies to take the time and enter the Awards, our thanks to the IMDA, Enterprise Ireland and IDA Ireland for all their assistance over the last twelve months."

The 2012 Medical Technology Industry Excellence Awards will take place on Thursday 13th December in Galway.