Proxy Biomedical Ltd has announced a €3.5 million expansion of its facility in An Spidéal, Co Galway, which will create 35 additional jobs.
It is understood that building contractors will begin work on the site in the next few weeks in an investment supported by Údarás na Gaeltachta.
Established in 2002, Proxy Biomedical designs, develops and manufactures implantable medical products, on behalf of leading manufacturers worldwide.
It began by supplying hernia repair products to the general surgery market but expanded its portfolio into new markets following significant investment in research and development, and in processing technologies.
Implants
The Galway company now designs and manufactures a range of biomaterial coverings, coatings and textile solutions for vascular implants, as well as high-strength resorbable implants and textile solutions for orthopaedics and sports medicine.
As part of this development, the company is doubling its cleanroom manufacturing facilities, and extending its R&D facilities. It is currently recruiting for positions in manufacturing engineering, biomaterial engineers, quality and regulatory, as well as production operatives.
Latest abridged accounts for Proxy Biomedical show that its accumulated losses reduced to just under €2.5 million in the year to the end of 2014, from €2.8 million a year earlier.
Development
Proxy Biomedical's chief executive Peter Mulrooney said the new facilities would support the company's "ongoing growth and strategic development initiatives" as it continues to broaden its technology portfolio.
Minister of State for Gaeltacht Affairs Seán Kyne welcomed the investment. “This is great news for the area. This expansion phase will provide much-needed highly skilled jobs in the Galway Gaeltacht, as the company increases its workforce to 75 employees over the next two years.”
Steve Ó Cúláin, chief executive of Údarás na Gaeltachta said: "We have been working closely with this company since it relocated its operations to an Údarás-owned facility in An Spidéal in 2008. Since then, the company has doubled its employment, invested heavily in research, and developed a highly innovative solutions portfolio."
