Press Release 24 Jun 2009

Boston Scientific Corporation, Inc. (BSC), which specialises in medical devices for use in minimally invasive surgical procedures, is to invest a further €91 million in a Research, Development and Innovation (RD&I) initiative at its site in Galway, with the support of IDA Ireland, which will create 45 new high calibre jobs.

This significant investment will enable BSC Galway to take a major step-up in technology, scale and technical innovation for RD&I at the site. It will move BSC Galway’s R&D from late stage development to an earlier, innovative stage, requiring the development of new competencies and skill sets to deepen the facility’s technology capabilities so that it can create new pioneering technology.

Hank Kucheman, Boston Scientific Senior Vice President and Group President, Cardiovascular, said: “We are pleased to make this strategic investment in Ireland, which builds on our positive and long established presence here and further demonstrates our commitment to the country.  The performance and success of our Galway site, the high calibre of talented people in Ireland and the country’s commitment to RD&I, particularly through the innovative approaches of both the Government and IDA Ireland, gave us confidence that this was the correct setting for this important investment.  We deeply appreciate the support of IDA for this project. Our activities in Ireland strengthen our Company globally by ensuring the continued highest levels of innovation, manufacturing and value creation for patients, physicians, employees and shareholders.”

This investment at the Galway facility is closely aligned to BSC’s corporate strategy, which is to build a robust pipeline of RD&I projects across all of its businesses designed to maintain and grow its current market leadership positions and generate strong future revenue streams. In 2009, BSC estimates that over a third of its revenue will come from new product introductions.

An Tánaiste who announced the investment said “BSC’s confidence in choosing its Galway facility to undertake this RD&I was based on its successful experiences in Ireland over the past 15 years and the factors which created that success. These factors are Ireland’s well proven competitive advantages which are available to all foreign direct investors.  They include an abundant supply of people who are highly educated and technically skilled to the best international standards, a business support and physical infrastructure ‘honed’ over decades of FDI experience, and one of the leading pro-business economic and political environments anywhere in the world.”

Note for Editor
About Boston Scientific Corporation (BSC)
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.
For more information, please visit: 

About Boston Scientific Galway
Boston Scientific employs approximately 3,000 people at its site in Ballybrit Business Park, Galway. Celebrating its fifteenth anniversary this year, the site is responsible for the manufacture of cardiology related products such as stents, catheters and guidewires. It is also the largest Boston Scientific site in Ireland and in the Corporation.

For further information please contact:

Boston Scientific –
Weber Shandwick - Mary McCarthy / Nikki Latchford Tel: 01 6760168

Department of Enterprise, Trade and Employment –
Press Office, Tel: 01- 6312200          Roisin McCann, Mob: 0872594144

We are pleased to make this strategic investment in Ireland, which builds on our positive and long established presence here and further demonstrates our commitment to the country.