An American clinical diagnostics company has announced a new investment of up to €6m in its Wexford operations, which will result in at least 20 new jobs.

Waters Corporation today celebrates 25 years of a presence at Drinagh in Wexford by confirming new research and development work which will come on stream in 2024.

Based in Massachusetts, Waters Corporation employs thousands of people across the world, including 400 already in Wexford.

That facility is its primary site for manufacturing and delivering in-vitro diagnostic systems, reagent kits and software used by hospitals and laboratories worldwide for applications including health screening for millions of newborn babies.

The formal announcement of the next phase of investment in its Drinagh, Wexford operation will be made this afternoon at a ceremony to be attended by political and business leaders.

"This is a fantastic investment in Wexford by Waters Corporation which will bolster the thriving life sciences cluster in the region," Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said.

"The Government is committed to job creation in all corners of our country, and we are creating the right environment for investment in the south-east with improved road, port and broadband infrastructure as well as the new Technological University," Mr Varadkar said.

"Ireland has become recognised globally for our workforce talent, including the scientific research which is making big advances in medical technologies and diagnostics software," he added.

The multi-year investment is part of Waters' strategic mission announced in 2021 to evaluate the potential of its mass spectrometry technologies for broader diagnostic solutions in areas of early disease detection such as cancer screening.

"This expansion in Wexford is a tremendous step forward for the Waters Clinical Diagnostics business and we're delighted with the support from IDA Ireland who are enabling growth of the life sciences industry in the South-East," said Liam Hore, Waters Corporation's Wexford General Manager.

"With the creation of new jobs and opening of new lab space in Wexford, our R&D Centre will make it possible for Waters' mass spectrometry technology to play an even greater role in clinical diagnostics, raising the standard of accuracy in the diagnosis of many clinical conditions where the performance of existing tests is lacking," he added.

The CEO of IDA Ireland, Martin Shanahan, said the investment will "significantly enhance the capability of the facility" and added that IDA Ireland remains committed to winning jobs and investment for regional locations.