The death has been announced of Derek Young, the Founder and CEO of Irish medical device company, i360medical.

Aged 51, Mr Young passed away at the Hermitage Clinic in Dublin earlier this week.

Originally from Co Laois, Derek Young had been living in Wexford for many years. He established i360medical in 2009.

Over the last decade the company established itself as a 'one stop' supplier of outsourced research and development for a number of global and national healthcare systems and medical technology companies.

"Derek was the proud founder and driving force behind i360medical. He was a deeply connected, accomplished innovator and leader in the medical device industry but the true legacy he leaves behind is that of a husband, father, and friend," Chair of the company and interim CEO Bob Mitchell said.

He described Mr Young as a visionary and one of Ireland’s leading healthcare entrepreneurs and innovators.

"Derek's vision for i360medical was to improve patient care and outcomes by firstly identifying and then providing innovative solutions. i360medical is now recognised as a global leader in the medical device innovation sector," Mr Mitchell added.

Derek Young was involved in a number of successful European medical device start-up companies including Medtech, Advanced Surgical Concepts and Haptica.

He is survived by his wife, Suzanne, and children India, Xavier and Pixie.