Life Sciences - Medical Technologies

What factors do MedTech companies consider when evaluating a decision to establish a presence in Ireland? There are a wide range of incentives and factors to attract them.

Ireland’s favorable regulatory environment plays a key role in attracting foreign direct investment in MedTech to the country.

Medical Technology companies based in Ireland operate to the highest international quality standards e.g. European, US and Japanese regulations. Their needs are understood by regulation agencies who work closely with them in order to achieve trouble free start ups. In addition, certification agencies in Ireland operate in accordance with European and global standard procedures.

There is mutual recognition of product approvals between member states in the European Union. This means a company can obtain quick product approval in Ireland, and it can then automatically receive EU-wide approval. This helps companies to rapidly gain access to the entire European market.

The NSAI is a globally experienced notified body, with a worldwide clientele. Parent companies quickly appreciate the Quality System expertise of NSAI and then engage NSAI at their parent company operations. For example, since 1991 the NSAI-Beckman Coulter partnership has developed so that to date there are 33 Beckman Coulter facilities worldwide registered with NSAI, including 14 in North America, 14 within Europe and registered sites in Australia, Singapore, China, Hong Kong and South Africa.

The Irish Medicines Board is responsible for generation and issuance of Certificates of Free Sale for Class 1 medical devices, custom made devices, systems and procedure packs and all in-vitro diagnostics medical devices. Once the devices are CE marked they can be freely marketed anywhere in the EU and EEA without further control.

Ireland provides a pool of experienced and highly trained technical and managerial talent, with mechanical, electronic, materials engineering and science specialists readily available to Medical Technology companies. There are many specialist courses focused exclusively on industry needs. Most companies seeking general managers for new Medical Technology companies in Ireland select experienced Direct Reports and we have found a healthy migration of experienced Irish managers to senior management positions in parent companies.

Ireland offers a sophisticated and deep-rooted sub-contract and services infrastructure. Find out more using IDA Ireland's Search Engine for sub-supply

Ireland offers a 12.5% Corporation Tax on all trading activities, with a comprehensive Double Taxation treaty network, combined with a range of other tax advantages such as Research and Development tax credits and patent royalty tax exemptions.

Published information from Irish Medical Devices Association (IMDA), a strong industry association: Irish Medical Devices Association (IMDA) website

Substantial efforts to support and elevate Ireland’s R&D base have paid dividends with 57% of the sector’s companies now boasting a R&D function, with Irish government grant assistance.