Denis Naughten (Roscommon-South Leitrim, Independent)
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392. To ask the Minister for Jobs, Enterprise and Innovation if the industrial development agency has been in discussion with the management of a company (details supplied) following the purchase of the Covidien plants in Athlone and Tullamore; the implications of this sale for employment on the three sites at Athlone, Tullamore and Galway; and if he will make a statement on the matter. [33544/14]

Richard Bruton (Dublin North Central, Fine Gael)
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The proposed takeover of Covidien by Medtronic was announced earlier this year but is subject to certain conditions such as shareholder approval and regulatory clearances around the world. The transaction is expected to be concluded by the end of 2014 or early 2015.

The acquisition will see the businesses of Medtronic and Covidien combine under a new entity entitled Medtronic plc, which will have its principal executive offices in Ireland, where Covidien’s current headquarters are located, with its Operations Centre located in Minneapolis, USA. The combined entity will have about 3,600 employees in Ireland. The company envisages that combining Medtronic and Covidien’s highly complementary product portfolios will allow Medtronic plc to address device needs in virtually every major device segment thus enabling Medtronic plc to provide more patients with a wider range of products and therapies in a greater number of locations worldwide.

Over 2,000 people are currently employed by Medtronic in Ireland, mostly at the company’s Galway facility, which has a Centre of Excellence for the development and manufacture of a number of the company’s key medical technologies for the treatment of cardiovascular and cardiac rhythm diseases. It also has a small sales operation in Dublin. Covidien has significant operations in Galway, Athlone Tullamore and Dublin, employing about 1,500.

IDA Ireland has ongoing close relationships with Medtronic and Covidien, both in Ireland and the US. That Agency will continue to engage with all parties to endeavour to influence a positive outcome for Ireland Inc., as the structure of the merger develops and strategic decisions are made.