Cook Medical is concerned that the Brexit may affect its ability to export products from Ireland to the UK after 2020, according to a new Irish Times report.
The Bloomington, Ind.-based company, which employs 850 people in Limerick, Ireland, is looking to extend a transition agreement originally slated to end in 2020 until 2025 to allow it and other medtech companies to meet regulatory requirements in the UK and avoid product delays.
Cook Medical didn’t state any concerns related to its employee base in Ireland or revenues, but did say that patients in the UK would likely be hurt if the deal wasn’t extended, the Irish Times reports.
With the Brexit, companies that previously traded without restrictions in the UK will have to deal with a different set of rules for importing and exporting products and components, according to the report.
Devices such as drug-eluting stents may face serious issues with importation, according to Cook European government and regulatory affairs director Emmet Devereux, as they would require separate approvals for two critical components, the Irish Times reports.
“Considering the importance of medtech to the Irish economy, we believe it is not only in the industry’s best interests, but ultimately in the interests of patients that the transition agreement is extended to avoid disruption to an integral part of the national economy,” Devereux said, according to the report.
Earlier this month, Cook Medical announced the launch and first use of its Advance CS coronary sinus infusion catheter and Compass CT disposable pressure transducer designed for treating heart failure patients.