Galway-based medical devices giants join forces

Two of Galway City’s leading employers in the medical devices sector are set to become a joint operation following the decision by Medtronic to acquire Covidien in a cash-and-stock transaction which has been valued at €31.6 billion ($42.9 billion).

Medtronic employs about 1,800 people at its Galway plant at Parkmore, while Covidien employs about 350 people in Mervue.

It is not known at this stage what impact, if any, the acquisition will have on the companies’ respective plants in Galway although the move will allow Medtronic to move its executive base from the US to Ireland.

Medtronic, the world’s number two medical device maker, went through with the process of purchasing Dublin-based Covidien yesterday.

A spokesperson said yesterday that it was too early to speculate on what impact the move would have, if any, on workers at the Medtronic facility in Parkmore or the Covidien plant at Michael Collins Road, Mervue.

It is understood the combined company will have 87,000 employees in more than 150 countries, following unanimous approval of the transaction by the Boards of Directors of both companies.

Covidien (formerly known as Tyco Healthcare) moved its headquarters to Dublin five years ago and employs 1,700 people in Ireland, with facilities in Galway, Tullamore, Athlone and Dublin.

Medtronic sells pacemakers and defibrillators, stents to prop open clogged arteries, and devices for diabetes and spinal injuries.

Covidien makes health-care products including surgical staples, feeding pumps, ventilators, and devices to treat the build-up of plaque.

Read more in today’s Connacht Sentinel