GE Healthcare: $40 Million Investment Set to Double Manufacturing in Carrigtwohill
Tuesday, December 1st, 2015 - GE Healthcare today announced a $40 million investment in its manufacturing facility in Carrigtwohill, Cork. Employment at the Cork facility, which currently stands at almost 500 people, is expected to increase by 140 people. The investment which is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland, will double the Carrigtwohill facility's production capacity of medical imaging contrast media - from 22.5 million to 43 million units per year.
This significant investment will position GE Healthcare globally for growth in developing precision medicine and biopharmaceuticals.
Paschal McCarthy, Managing Director, Global Supply Chain at GE Healthcare said:
"Today's announcement represents a key development in the journey of our facility here in Carrigtwohill. We are proud to be part of GE Healthcare's Life Sciences division as it grows and positions itself to meet the international demand for precision medicine, biologics and other advanced medicines such as cell and immunotherapies. Most importantly, this investment in our facility represents a significant vote of confidence in our people and their commitment to delivering the very best possible products available in the market".
Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said:
"Manufacturing is a key sector which we have targeted as part of our Action Plan for Jobs. This is an area which was neglected in recent decades but we have put in place a range of measures to support growth and in recent years we have seen a strong jobs performance. Today's announcement that GE Healthcare is investing $40 million and creating an extra 140 jobs in Carrigtwohill is a great boost for Cork and for manufacturing in Ireland. I wish Paschal and the team every success with this project".
Welcoming the expansion, Martin Shanahan, CEO, IDA Ireland said:
"The life sciences sector continues to thrive in Ireland. This increase in the production of this diagnostic tool of almost 100% is a real endorsement of the Carrigtwohill facility by GE Healthcare. IDA Ireland will continue to target further investment in this sector in the coming months".
Established in 1992, GE Healthcare's Cork facility fills, packs, and distributes contrast media used in medical scans to aid the diagnosis of disease to more than 80 markets internationally. Contrast media is commonly used during MRI scans and may be ingested by or injected into a patient in order to improve the visibility of the body's internal structure. Today's announcement builds on the development of a $10 million production suite at the Carrigtwohill facility in 2012 which saw the site's manufacturing capacity increase by over fifty percent at that time.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients. www.gehealthcare.com