Integer to Construct New Innovation and Manufacturing Facility in Galway, Ireland

Rhea-AI Summary

Integer Holdings Corporation (NYSE: ITGR) announced plans to expand its operations in Galway, Ireland, by constructing a 60,000 square foot Medical Device Innovation and Manufacturing facility. This $30 million investment aims to meet rising demand for medical devices, particularly catheters and delivery systems. The new facility is expected to create 100-200 jobs and enhance R&D capabilities. Construction is slated to begin in 2022, with completion anticipated by late 2023. Integer currently employs around 1,300 people in Ireland, with 350 in Galway.

Positive

• Announcement of a new 60,000 square foot facility in Galway to meet increased demand.
• Projected investment of $30 million signifies strong financial commitment.
• Potential creation of 100-200 new jobs enhances local employment opportunities.
• Expansion strengthens Integer's research and manufacturing capabilities in the region.

Negative

• None.

Expansion to Significantly Increase Integer’s Presence and Capabilities in Galway; Signifies Continued Growth and Commitment to Integer’s Customers

PLANO, Texas, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource (MDO) manufacturer, today announced it will further expand its presence in Galway, Ireland, with the construction of a new Medical Device Innovation and Manufacturing facility in the Parkmore East area of Galway. This new facility is required to meet increased demand for regional research, development and manufacturing capabilities as well as capacity for catheters and delivery systems. It adds to Integer’s 15 global manufacturing sites and current presence in Ireland, which includes an R&D center in Galway and manufacturing facilities in Galway and New Ross, County Wexford.

“I’m really pleased to see Integer announce further investment in Galway, with the addition of a new Medical Device Innovation and Manufacturing facility,” said Tánaiste and Minister for Enterprise Trade & Employment Leo Varadkar TD. “I understand that this expansion will result in 100-200 new roles in the coming years, creating excellent employment opportunities for people in the area. This collaboration between IDA and Integer is another example of the valuable work that IDA do to bring investment into the country. I wish the team every success with this expansion.”

“This expansion further demonstrates Integer’s commitment to supporting our customers’ growth strategies,” said Payman Khales, president of Integer’s Cardio and Vascular business. “The new Galway facility will allow us to continue our investments in research and development in this important medical device hub. The significant manufacturing space in the same facility will allow a seamless transition of new products from development to manufacturing, which will further enable us to help our customers bring products to market faster – a strategic priority as we advance our vision to enhance the lives of patients around the world.”

The initial phase of the project will include construction of a 60,000 square foot facility on land purchased from IDA Ireland and involves a projected $30 million investment over the next several years. Construction is anticipated to kick off in 2022, with an estimated completion in late 2023. Once complete, all new regional research, development and manufacturing will be housed in this facility, with equipment investments continuing over the following 2-3 years. This initial phase will satisfy Integer’s immediate space requirements in the region; however, the company has obtained planning permission for a total of 147,000 square feet for future expansion when needed.  

Integer’s presence in Ireland spans more than 25 years. Throughout that period, Integer has consistently invested in its infrastructure, technology and associates.

The significant investment being announced today continues that trend, while at the same time reinforcing Integer’s commitment to its Ireland operations and customers. The company currently employs approximately 1,300 people in Ireland, with 350 located in Galway. The addition of the new Galway facility is projected to add an estimated 100-200 engineering, administration and manufacturing jobs to Integer over the next several years, while the design and construction activities are expected to employ several hundred third-party contractors in the Galway region.

“We are excited about our continued growth in Ireland and look forward to meeting our customers’ expanded needs well into the future,” continued Khales.

“Integer’s planned expansion in Galway is very welcome news,” said IDA CEO Martin Shanahan. “This is an important strategic move for the company, positioning it to meet growing demand globally for its products. This is a significant investment by a leading medical devices company and demonstrates Integer’s continued commitment to Galway and the West Region. Integer is a valued employer in Ireland where it has access to a highly skilled and talented workforce. I’d like to wish the company continued success.”

About Integer^®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device outsource (MDO) manufacturers in the world serving the cardiac, neuromodulation, vascular, portable medical, advanced surgical and orthopedics markets. The company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition, it develops batteries for high-end niche applications in energy, military, and environmental markets. Greatbatch Medical^®, Lake Region Medical^® and Electrochem^® comprise the company’s brands. Additional information is available at www.integer.net.

Forward-Looking Statements
Some of the statements contained in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statements relating to our expectation of continued compliance with covenants and the benefits of the amendment. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or variations or the negative of these terms or other comparable terminology. These statements are only predictions and actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements, you should carefully consider a number of factors, including, but not limited to, risks and uncertainties that arise from time to time and are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release, whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.

Investor Relations
Tony Borowicz
tony.borowicz@integer.net
716.759.5809

Media Relations
Kelly Butler
kelly.butler@integer.net
214.618.4216

FAQ

What is Integer Holdings Corporation's expansion plan in Galway?

Integer is constructing a new Medical Device Innovation and Manufacturing facility in Galway, Ireland, to meet increased demand.

How much is Integer investing in its Galway facility?

Integer plans to invest $30 million in the new Galway facility.

When is the construction for the Galway facility expected to begin?

Construction is anticipated to kick off in 2022.

How many jobs will the new facility create?

The expansion is projected to create 100-200 new jobs.

What is the current employee count for Integer in Ireland?

Integer employs approximately 1,300 people in Ireland, with 350 located in Galway.