June 21, 2024

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Munster’s STEM scene to benefit from several lucrative expansions

3 min read
Munster’s STEM scene to benefit from several lucrative expansions

Cork company CXV Global announced a partnership with a US biotech company, while two non-Irish companies selected Cork and Limerick to grow their operations.

CXV Global is set to expand further following the announcement of a new strategic partnership with US-based biotech Panacea Technologies.

From its base in Little Island, Co Cork, CXV Global works with its multinational network of R&D and manufacturing teams to meet customers’ supply chain and operational needs.

The business was originally founded in 1998 as Crest Solutions. In March 2020, it established a partnership with long-term partner companies Xyntek and Vistalink to create a single life sciences-focused business with a worldwide reach, becoming CXV Global.

CXV Global currently employs 300 people across its Irish and UK offices. It has said that its new partnership with Panacea Technologies will lead to further opportunities for growth and expansion across Ireland.

The partnership will offer a full spectrum of life sciences automation and digitisation tools to support a range of pharma and medtech products across the entire life cycle.

Healthcare investor Water Street Healthcare Partners has committed capital to further expand the new merger’s global footprint and tools. The investor appointed Irishman Brendan McAtamney as chairperson of the new platform.

McAtamney recently retired as CEO of UDG Healthcare following a career at Abbott Laboratories. Financial details on the investment were not disclosed.

McAtamney said that the partnership and ongoing tech developments meant the team had “a tremendous opportunity to make a difference in [the] industry”.

According to Frank Madden, CXV Global’s co-founder and CEO, “Cork continues to be an excellent place from which to grow an internationally focused business. Our ability to hire so many talented people in Cork, in addition to having so many multinational life sciences manufacturing customers with a presence here, have been key enablers in the success of the business.”

He added that the company’s future planned growth would create further opportunities over time for the business’s Irish employees.

A worker at CXV Global using a machine and dressed in lab gear.

Image: CXV Global

Also tipped for Cork-based growth is global business IPS, which has chosen the Munster city to continue its Irish expansion. IPS already has an office in Dublin with more than 110 staff. It provides a variety of enterprise services to life sciences businesses, including engineering, construction management, procurement and validation.

The company chose Cork as a location from which to further grow its EMEA business due to its proximity to its customers in the Munster region. Like CXV Global, IPS is also hoping to add to its Irish team by creating jobs in Cork.

“IPS are poised to be the leader in pharmaceutical project delivery throughout all of Ireland,” said Peter Higgins, senior director at IPS. “Our position in the industry is a testament to our hard work and team of experts. I am excited that our ever-expanding and talented team across both our Cork and Dublin offices continues to be able to support our clients locally.”

Not to be outdone by Cork, Limerick has been chosen by Canadian tech company Infinite Outsourcing Solutions as its new Irish base.

The company specialises in tech services for staffing, recruitment, business automation consulting and logistics. It has spent the last few months working quietly on establishing a team at its new Limerick office, which is to be its designated European hub.

According to the company’s Ireland director of operations, Robert Freeman, the team has  already “started servicing and supporting some multinationals here in Limerick, helping with top talent acquisitions and we look forward to expanding and growing here”.

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