Tánaiste announces 230 new jobs in Galway

Merit Medical to expand R&D and manufacturing activities

The Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, T.D., announced today (Tuesday 29^th June 2004) that Merit Medical Systems Inc. plans tocreate 230 new jobs over five years at the company’s medical products facility, Merit Medical Ireland Limited at Parkmore Business Park West, Galway.

Merit Medical Systems Inc is a key market leader in the medical technologies industry. It will invest €9.3 million, with the support of IDA Ireland, in the expansion of R&D and manufacturing activities at the Galway plant. At least 20% of the new jobs will be for third level graduates. In addition, the facility will be extended from 27,000 sq. ft. to 67,000 sq. ft. and construction is already underway.

Announcing the investment the Tánaiste said: “This is a significant endorsement of the Galway facility and will further enhance its value and strategic importance within its parent group. It will increase Merit’s already important contribution to Galway and surrounding area through the provision of new employment and its increased spending in the local economy. This investment will further enhance the reputation of the region as a ‘cluster’ location for global medical technology companies.”

She continued: “Merit operates in high growth markets with leading-edge products. This investment is an indication of Ireland’s continuing attractiveness as a location for the development of high level R&D and new core products.”

Merit Medical develops, manufactures and markets single-use medical products for use in diagnosis and treatment of cardiovascular disease. Under this investment, which is part of Merit’s strategy to sustain its competitive advantage through the further redesign and development of a number of its products, the Galway facility will be designated the centre-of-excellence for some of Merits new products and technologies, replicating its success achieved previously by already being designated the centre-of-excellence for guidewires.

The Galway facility was established in 1996 and currently employs 179 people. Its successful development of a number of new products in the guidewire range led to its designation as the centre-of-excellence for guidewire technologies. Over the years the facility has grown and developed and is now the principal manufacturing site for another of the Merit’s products - inflation devices - which are non-invasive devices used in angioplasty cardiology procedures.

Mr. Fred Lampropoulos, Chairman, President and Chief Executive Officer, Merit Medical Systems Inc., said: “Our high level of satisfaction with our Galway facility’s ability to taken on new challenges and its successful track-record in developing new products over the past ten years, were major factors in implementing this crucial investment there. In addition, the proven commitment of the Irish management team and workforce is a further guarantee to us that these latest developments will be implemented successfully and will result in the facility increasing its already significant role in our global business.”

Merit Medical Systems Inc., was established in 1987 and is headquartered in Salt Lake City, Utah, US. It employs 1,200 people worldwide and in addition to the Galway facility has manufacturing facilities in the US – in Utah, California and Texas. It has over 2,000 FDA cleared products that are designed to provide doctors and other healthcare professionals with devices that enable them to perform interventional and diagnostic procedures. These include catheters, guidewires, introducer sheaths, needles, safety products and drug infusion devices. For 2003 Merit had sales of $136 million and profit before tax of $27 million.

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