GE HealthCare has announced a €132m investment to expand its facility in Cork where they manufacture contrast media - diagnostic imaging agents used in CT scans and X-Rays.
A new 3000m2 facility on the grounds of the existing site at Carrigtwohill will enable 25 million more patient doses per year of contrast media by the end of 2027, helping address growing global demand.
An Taoiseach Micheál Martin turned the sod at the site this morning.
"GE HealthCare has been manufacturing in Ireland for more than 30 years, and has invested extensively in the Carrigtwohill site and the people working here," Mr Martin said.
"I am delighted to welcome this significant new investment here in Cork, which is testament to the commitment of GE HealthCare in Ireland, and also to our highly skilled workforce," he added.
Contrast media are injectable diagnostic imaging agents used to enhance visualisation of organs, blood vessels and tissues during medical imaging.
Global demand for iodine-based contrast media, used in X-Ray, Computed Tomography (CT) and Interventional procedures, is expected to double in the next decade, driven by ageing populations and the increasing global prevalence of chronic disorders.
President & CEO of GE Healthcare's Pharmaceutical Diagnostics segment, Kevin O’Neill, told Morning Ireland that Cork is an excellent location because of the "fantastic team" and "great access to global markets".
He said Carrigtwohill was the right place for the investment, and it wasn't in doubt even after the election of US President Donald Trump.
Mr O'Neill also said GE Healthcare will adapt if President Trump introduces tariffs.
"We're an international company, we have been navigating the global landscape in terms of tariffs for many, many years, and we'll be adapting to any changes that take place whether it's the United State or any other country around the world."
In 2024, the Carrigtwohill facility, along with GE HealthCare's other fill and finish production sites in Shanghai, China, and Oslo, Norway, supplied over 100 million patient doses of contrast media around the world.
"As an industry leader we have a responsibility to help meet the growing global demand for contrast media from healthcare providers and their patients," Mr O'Neill said.
"This new facility demonstrates our broader commitment not just to address future demand, but also to increase resiliency and security of industry supply for customers."
Eugene Barrett, Site Leader and Managing Director, GE HealthCare Ireland, said: "This expansion strengthens our longstanding presence in Cork, where we have a highly skilled team, access to leading talent in the pharmaceutical industry, strong distribution links around the world and a great partnership with IDA Ireland.
"First doses from our new facility are expected by the end of 2027 and we are proud of the impact our site will continue to make for patients around the world."
IDA Ireland CEO Michael Lohan said the announcement is an endorsement from GE HealthCare senior leadership team of the confidence in the capability and competency of the team at the Carrigtohill campus developed over three decades.
Engineering firm IPS-Integrated Project Services will lead the project with enabling construction works starting at the Carrigtohill facility in February 2025, and over 250 construction roles expected to be created.
