A pioneering partnership between private sector companies and the health service to develop groundbreaking Irish healthcare products and research and use them to benefit of Irish patients has been set up by the Government. Minister for Jobs, Richard Bruton and Minister for Health, Leo Varadkar have announced €5 million in funding over five years for the Health Innovation Hub.
The Hub has already shown its value and fostered a number of innovative healthcare products and services since it was set up on a pilot basis in 2012 based in University College Cork. Innovative Irish healthcare companies will for the first time be able to easily access the health service to test their products and services, increasing the chances of developing commercial ideas and creating jobs.
The initiative has massive potential for Ireland’s burgeoning healthtech sector, and for improving healthcare services and outcomes for patients. The commitment by Government to a facility such as the Health Innovation Hub sends out a very strong message to international companies considering investing in Ireland that we are committed to developing even stronger links between the health and enterprise sectors and the high level R&D driving each sector.
More than 100,000 people are employed in the public health sector and as many again with private healthcare providers, insurers, pharmaceutical companies, medical devices, and in research and development.