Major investment in the Mid-West of Ireland
Site expected to be operational by 2021
IRELAND, October 3 2018 – Edwards Lifesciences Corporation, the global leader in patient-focused innovations for structural heart disease and critical care monitoring, today announced National Technology Park, Castletroy, Limerick, as the location of its new permanent facility which is expected to manufacture delivery components for its transcatheter heart valve therapies.
The company, headquartered in Irvine, California, USA plans to complete this new, 170,000 square feet (approx.15,700 square meters) purpose-built manufacturing facility by 2021. Once the facility is fully operational, the company expects it will employ approximately 600 people in roles ranging from leadership opportunities, planning, quality control, assembly, engineering and finance. Edwards’ investment in the project is expected to amount to approximately €80 million.
“The site we have selected to base our operations in Ireland was chosen for many reasons, but one main attraction for us was the wealth of experienced talent available with the skills we require in the medical technology sector. This plant is an integral part of our global supply strategy with locations in the United States and elsewhere, to support our future growth and reliability of supply as we serve patients worldwide. We would like to thank the Government and the IDA for the support we have received on this journey to date, and we look forward to our continued engagement in the local community,”
Nathan Tenzer, Plant General Manager, Edwards Lifesciences.
“The location of this plant in Castletroy is wonderful news for the local community, as it will bring significant investment into the area as well as the wider Mid-West region”, said Minister for Business, Enterprise and Innovation, Heather Humphreys TD. “It is a vote of confidence in the region to have a global leader in the Medtech sector, like Edwards, located here. My Department, through the IDA, is committed to supporting Edwards as it establishes its operations in Ireland and as it continues to develop its innovative heart valve technologies.”
Speaking in response to the announcement, Pat Breen T.D., Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection said: “This new purpose-built facility shows the long-term ambitions Edwards Lifesciences has for its operations in the Mid-West. The development also reflects the many advantages this region holds, in terms of talent, infrastructure and an enterprising environment. We wish the company ongoing success and will look forward to seeing its progress in the years ahead.”
Cllr James Collins, Mayor of Limerick City and County added, “Today’s announcement by Edwards Lifesciences is a huge endorsement of the Limerick city region and its ability to attract global leaders in the Life Sciences sector to set up here, it also further cements Limerick’s reputation as a go-to location for companies wishing to innovate and expand. The eco-system in Limerick centered around co-operation between the local authority, state agencies and education providers has once again proven to be a winner for companies looking at investing in Ireland. I can assure the company of the continuing support of Limerick City and County Council.”
CEO of IDA Ireland, Martin Shanahan, said: “I said at the time this project was announced back in March that an investment of this scale was terrific news for the Mid-West Region and for Ireland. The decision on location paves the way for construction of this new state-of-the-art manufacturing facility. The construction jobs will be of substantial value to the local economy while the 600 new roles that will be created when the facility is fully operational will be of enormous benefit to the entire region. Having Edwards Lifesciences, a global leader in its field, based in the Mid-West greatly supports the region’s reputation.”
Over 60 people, production staff, engineering and professional management are expected to be employed at Edwards Lifesciences’ initial site in the Shannon Free Zone, which opened in August if this year. People interested in applying for a position for its initial facility in Shannon and its permanent facility in Castletroy, Limerick can find out more information and submit applications at www.edwards.com/irelandjobs.
About Edwards Lifesciences
Edwards Lifesciences, based in Irvine, Calif., is the global leader in patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring. Driven by a passion to help patients, the company collaborates with the world’s leading clinicians and researchers to address unmet healthcare needs, working to improve patient outcomes and enhance lives. For more information, visit www.edwards.com and follow us on Twitter @EdwardsLifesci.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, but are not limited to, statements by Minister Humphreys, Minister Breen, Martin Shanahan, Cllr James Collins and Mr. Tenzer, and statements regarding expecting timing and scope of new manufacturing operations, investments and employment. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement.
Forward-looking statements involve risks and uncertainties that could cause the results to differ materially from those expressed or implied by the forward-looking statements based on a number of factors including but not limited to unexpected changes or delays related to regulatory approvals, construction timing, scope of hiring, or other company dynamics. These factors are detailed in the company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2017. Our filings, along with important product safety information, are available at www.Edwards.com.
Edwards, Edwards Lifesciences, and the stylized E logo are trademarks of Edwards Lifesciences Corporation. All other trademarks are property of their respective owners.