The West of Ireland has become well established as the hub for the medical devices industry in Europe. The space is made up of large multinationals with many being household names, creating and innovating new products and services for the worldwide market every year. However, Galway is the also the home for many less well known companies operating in this area. There are numerous Irish SMEs who are also successfully operating and innovating in this space and one such SME is Caragh Precision.

With 26 successful years in the international medical devices industry, it is a testament to their focus on core business and commitment to innovation that Caragh Precision is weathering the current economic storm. This Galway company provides a turnkey solution to medical device companies, working with them as an outsourced partner from product and equipment design to prototyping and volume manufacturing.

To ensure they remain at the leading edge of innovation and technology development, Caragh Precision has invested in providing an Innovation Centre in Galway which is staffed by dedicated design engineers with extensive knowledge in medical device design and machining. This experience means that they are in the unique position to identify and implement technologies to allow customers to develop new and innovative medical devices.

However, despite its successes, Caragh Precision has encountered challenges, similar to thousands of other Irish SMEs. The company has noticed a level of conservatism in the medical devices industry as clients have become more cautious in their outlook and therefore progress new projects at a slower pace than previously. As well as seeing a slowdown in projects, Caragh Precision find continued difficulty to access much needed capital for new equipment, a common problem facing thousands of SMEs across the country today.

In recent times, the management team has had to concentrate on managing costs internally, working more efficiently and leaning out waste where possible to continue operating and growing in these challenging times. They have also ensured that they continue to focus on their core competencies and key areas of the medical device sector. Indeed, sticking to core business while continuing to innovate is a strategy which has helped many SMEs survive many storms and Caragh Precision is sailing through, smoother than most.

For more information visit: www.caraghprecision.com