EMDT_European Medical Device Technology

European Medical Device Technology, Spring 2015

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32 | Spring 2015 European Medical Device Technology emdt.co.uk special report start-up working on the development of an integrated infusion and monitoring device for patients with acute brain damage caused by stroke, trauma or cardiac arrest. Galway, Western Ireland The area around Galway in Western Ireland provides a good example of the dynamics responsible for the formation of a successful technology cluster. The region was long considered slow in economic development until a clever government policy centred on a low corporate tax rate (currently at 12.5%) and research incen- tives attracted foreign investment. Today, nine of the world's top-ten medtech companies have facilities in the country. According to an unpublished study by the National University of Ire- land in Galway (NUIG), the cluster was formed around subsidiaries of big U.S. firms such as CR Bard, Abbott, Merit, and Boston Scientific. With such residents, cardiovascular devices, particularly stents, are among the cluster's specialties. While these companies initially only conducted assembly operations in Galway, over time, the Irish facilities climbed up the company value chain and are now undertaking R&D and product development activities. In 2011, of the 59 medtech companies in the region, 21 were foreign-owned and 38 were indigenous. As hoped, the foreign direct investment facilitated a knowledge transfer benefiting the region. The NUIG study found that 53% of the native busi- nesses were established by former employ- ees of the multinationals. Local educational institutions adapted and catered to the growing sector and its need for a specialised labour pool. NUIG introduced its first biomedical engineering degree in 1998. Ever since, the university has had a focus on medical engineering. While in 1991, only one patent in medi- cal technology was filed in the region, the number reached 31 in 2009, according to the cluster study. 'Golden Triangle', UK The so-called 'Golden Triangle' between London, Cambridge and Oxford is a hub for world-class medical research. Five of the area's universities are ranked among the top twelve institutions in the world by Times Higher Education in the category of 'Clinical, Pre-Clinical and Health'. Impor- tant discoveries, such as penicillin, have been made here; Cambridge University alone boasts 90 Nobel Prize winners. London, in particular, is seeking to build upon this reputation and establish itself as the global hub of the life sciences industry. At the center of the effort is the MedCity project, launched by London's mayor Boris Johnson in April 2014. The initiative aims to facilitate cooperation between the top universities in the region, hospitals, private companies and the Manufacturers Representatives A Single Source for Stainless Steel Tubing Stock and custom made stainless steel tubing for engineers, designers and producers of medical devices. Bringing Silicone to Life ® Custom Silicone Extrusion, Molding, Sheeting, Dipping & Assembly www.mer-europe.com E: info@mer-europe.com Complete Medical Component and Device Manufacturing Precision machining, turning and milling,High velocity machining, Micromachining, Wire and plunge EDM and more. MPT Europe Excellence Through Innovative Ideas & Practical Solutions. Inspection & Production Equipment for the Balloon Catheter and Stent Industry Innovative Solutions for Production Development Custom Development and Supply of Inspection & Production Equipment for the Balloon Catheter and Stent Industry Visit Our Stand at the MEDTEC Show in Messe Stuttgart, Germany, 21-23 April 2015 Stand 7B71

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