The Irvine, Calif.-based company is looking to build a new 170,000 square foot facility in the area, and hopes to complete the project by 2021, according to the report.
The project will cost approximately $93.3 million (EU €80 million) to complete, and could employ up to 600 individuals, according to the Limerick Leader. The facility will manufacture delivery components for its transcatheter heart valve therapies, according to the report.
“The site we have selected to base our operations in Ireland was chosen for many reasons, but one main attraction for us was the wealth of experienced talent available with the skills we require in the medical technology sector. This plant is an integral part of our global supply strategy with locations in the United States and elsewhere, to support our future growth and reliability of supply as we serve patients worldwide. We would like to thank the government and the IDA for the support we have received on this journey to date, and we look forward to our continued engagement in the local community,” Edwards plant GM Nathan Tenzer said, according to the Limerick Leader.
“I said at the time this project was announced back in March that an investment of this scale was terrific news for the Mid-West region and for Ireland. The decision on location paves the way for construction of this new state-of-the-art manufacturing facility. The construction jobs will be of substantial value to the local economy while the 600 new roles that will be created when the facility is fully operational will be of enormous benefit to the entire region. Having Edwards Lifesciences, a global leader in its field, based in the Mid-West greatly supports the region’s reputation,” IDA Ireland CEO Martin Shanahan said, according to the report.
In July, Edwards saw shares fall slighty despite the medical device maker posting second quarter earnings that topped expectations on Wall Street.