Hoop Medical, a firm focused on the design and manufacture of medical device balloons, has announced the official opening of its new, purpose-built facility in the Ardcavan Business Park, Wexford.
This expansion provides a 10,000-sq-ft manufacturing space, more than tripling Hoop's current footprint to support the company’s continued growth and create new job opportunities.
Enterprise minister Peter Burke said: “This government is prioritising balanced regional development and it is innovative companies like Hoop Medical leading the way on this growth in our regions. Hoop Medical is achieving rapid growth due to incredible innovation behind its product offering, and the investment it has made in its business and the region.
"Today’s announcement is fantastic news for for Wexford, for the southeast, and for the life sciences sector. The government looks forward to supporting Hoop Medical on their growth journey into the future.”
'Milestone in our journey'
Clive Hayes, CEO said: “We are delighted to have reached this milestone in our journey, particularly for our customers and staff. It is just over five years since Hoop Medical was established and since then the company has grown to a team of 40 people with a customer base across Ireland, Europe, the US, South America, Asia, and the Middle East.
"This new facility enables Hoop to meet the demand of existing projects as they mature and also allows us to continue growing our customer base internationally.”
Hoop Medical partners with a diverse range of companies, from innovative startups to large international OEMs, to develop solutions and balloon technologies for minimally invasive procedures.
With a team that brings more than 200 years of combined experience in balloon development, Hoop Medical has earned a reputation as the go-to expert for complex and challenging balloon projects over the past five years.
“Hoop’s priority is to contribute to our customers' success," said Hayes. "Our unwavering commitment to our customers over the last five years has not only solidified our relationships but also yielded remarkable results, unlocking substantial opportunities for Hoop Medical.
"This achievement is a testament to our outstanding workforce of talented, experienced and quality focused teams. By integrating our customer-focused philosophy with the capabilities of our team, we've fostered growth opportunities that culminated in the need for this new purpose-built facility.”
At the forefront of innovation
Hoop Medical also plans to incorporate new technologies to maintain its position at the forefront of innovation.
As an Enterprise Ireland client operating under its High Potential Start-Up Program, Hoop extended its gratitude to Enterprise Ireland for its continued support.
Jennifer Melia, executive director, Enterprise Ireland, said: “I am delighted to join Hoop Medical today to celebrate the opening of their new manufacturing facility.
"Hoop is a high potential start-up bringing innovation and adaptability to the critical medical device sector and is an excellent example of an Irish company that has successfully implemented a growth action plan while meeting the multifaceted needs of its customer base.
"Enterprise Ireland is delighted to have supported Hoop Medical along its growth trajectory, and we look forward to working with the company to support its ambitious expansion plans announced today."