Veryan has announced a multimillion-euro investment at its Galway facility that will contribute to the further expansion and diversification of its product portfolio beyond the BioMimics 3D Swirling Flow stent, marketed in Europe and USA to improve blood flow through arteries in the leg. 

Veryan opened its first Galway facility and hired its first employees in 2006 and was acquired by Otsuka Medical Devices (OMD) in 2018. Otsuka Medical Devices is a subsidiary of Otsuka Holdings which operates in 30 countries employing 47,000 people and this year celebrates its 100^th anniversary.

Since the OMD acquisition, the Veryan Galway workforce has grown from 11 to 46 employees in design engineering, development, supply chain operations, regulatory, quality assurance through to clinical operations, data management and finance.

New treatment for venous disease

The investment announced is expected to create a further 20 full-time jobs in Galway associated with three development projects, two focused on arterial intervention and one, an exciting new treatment for venous disease.

Tánaiste and Minister for Enterprise Trade & Employment Leo Varadkar TD said: “I’m really pleased to see that Veryan Medical will be creating 20 additional jobs over the next two years with this significant new investment. This expansion demonstrates the company’s commitment to Ireland and will allow it to continue to benefit from the rich pool of talent in Galway and the surrounding area. I wish the team the very best for the future.

“Today’s announcement provides a very timely stimulus for our outstanding team, which has displayed remarkable resilience and perseverance during the Covid-19 pandemic”, said Nick Yeo, Chief Executive Officer of Veryan Medical Ltd. “For more than a decade, our Galway R&D team has nurtured a culture of Design Intelligence and this investment will create exciting opportunities to add this value mark to the new products we are developing.” 

Noriko Tojo, president and representative director of Otsuka Medical Devices, said: “We are grateful for IDA Ireland’s support of our R&D programme in Ireland, which is central to our activities to deliver innovative and unique endovascular technologies to patients and physicians. We look forward to continuing working with our talented colleagues in Ireland to achieve this ambitious goal.” 

LEED for green buildings

In preparation for the expansion in operations, the Galway team recently relocated to the new Veryan Innovation Centre, a 15,000 sq ft facility at Parkmore Business and Technology Park, Galway, which has been designed to achieve the Gold standard in Leadership in Energy and Environmental Design (LEED) for green buildings.

Martin Shanahan, CEO of IDA Ireland said: “The investment announced today by Veryan is a significant addition to the Japanese Life Sciences companies that have chosen to locate in Ireland and further strengthens the West Region’s MedTech cluster. I also wish to congratulate Veryan on its move to its Innovation Centre at Parkmore Business and Technology Park in Galway, and every success with this latest expansion.”

Veryan is currently recruiting multiple roles in Galway, in the areas of regulatory affairs, design assurance and R&D.  For more information about these opportunities, visit www.veryanmed.com/international/careers

This investment is supported by the government through IDA Ireland.