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Jobs Minister Richard Bruton today announced that Leitrim medical devices firm VistaMed is to invest €7.2m in research and development and the expansion of its production capacity, creating 79 new jobs – almost doubling its current workforce.

The investment, which is being supported by the government through Enterprise Ireland, will see VistaMed expand its research and development activities to ensure continued growth in export sales and Irish employment. The investment will also involve an expansion of their manufacturing facilities in Carrick on Shannon.

Making the announcement Minister Bruton said:

Today’s announcement is a great boost for Carrick on Shannon and the surrounding region, and I commend Enterprise Ireland for the work they have done in delivering these vital jobs.

However this is also a significant day for the Irish economy. As I have said before, in order to create the jobs we so badly need we must not only deliver high levels of multinational investment, but also create an indigenous engine of growth by driving a step-change in the performance of our domestic exporters. Indigenous exports provide three times more benefit to the Irish economy than multinational exports.

Vistamed is an Irish company in a regional location taking advantage of Ireland’s excellent record in the multinational medical technology sector to drive innovation and employment growth. We need to see more of this, and in the government’s Jobs Strategy I will announce plans to build on this success to drive an indigenous engine of employment growth

Established in 1998, VistaMed offers design, development and manufacturing of complex Catheters and complimentary Medical Devices supported by a state of the art extrusion process manufactures complex medical tubing out of two manufacturing plants in Carrick on Shannon, Co Leitrim and Rooskey, Co. Leitrim. The company employs 93 people in Leitrim and exports to the UK, Europe, America, South America and India.