Global medical products and technologies firm Convatec has announced plans to invest more than $1 billion over the next decade to accelerate its research and development (R&D) ambitions worldwide.
In the UK, Convatec plans to invest $650 million including a new state-of-the-art R&D hub in Manchester, set to open in 2027.
The Manchester R&D hub will be located at Citylabs 4.0, the newest phase of Bruntwood SciTech’s health innovation campus.
“The £42 million, 125,000 sq ft facility will provide a state-of-the-art base for Convatec’s teams, as well as offering direct connections to highly skilled talent, funding, universities, the NHS and mentorship,” said Bruntwood.
“Importantly, Citylabs 4.0 is based on the Manchester University NHS Foundation Trust campus, one of the UK’s largest NHS Trusts.
“Bruntwood SciTech’s new Citylabs 4.0 facility will put Convatec in the centre of a thriving ecosystem of health and life sciences organisations, helping to drive forward pioneering work and cement Greater Manchester’s position as a leader in healthcare innovation.”
Convatec said: “The new facility will be one of the largest in Convatec’s global network of Technology & Innovation Centres, with the potential to provide common or shared R&D capabilities and competences across all four of Convatec’s categories: Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care.
“It will also house cutting-edge analytical R&D capabilities, regulatory functions, and digital health innovation, positioning Convatec at the forefront of medical technology development …
“The new Manchester R&D hub will be home for around 200 highly skilled colleagues, largely transferring from Convatec’s existing Deeside R&D site, with plans for further growth in the years ahead.
“Convatec’s manufacturing site in Deeside, North Wales, will remain a cornerstone of its global operations and is unaffected by this change, with around 400 employees continuing to be based there after the move completes in 2027.”
Convatec will also invest $600 million over the next 10 years in R&D in the US. The plans include a significant expansion of its R&D facilities in Boston, United States, by end 2025 – increasing capacity by 50% and further enhancing lab, testing and collaboration space.
Jonny Mason, Interim Chief Executive Officer at Convatec, said: “Today’s announcement marks an exciting moment in Convatec’s commitment to pioneering trusted medical solutions to improve the lives we touch.
“Our plans to invest more than $1 billion – anchored by major expansion plans in both the United States and the United Kingdom – demonstrates our unwavering commitment to advancing healthcare innovation for people living with chronic conditions around the world.”
Divakar Ramakrishnan, Chief Technology Officer and Head of Research & Development at Convatec, said: “The significant expansion of our R&D capabilities in Boston and plans to establish a new flagship centre in Manchester are investments in the talent, technology, and infrastructure needed to accelerate innovation in pioneering trusted chronic care solutions.
“They reinforce our belief in the strength of the US and UK life sciences sectors and position Convatec at the forefront of medical technology innovation for years to come.”
Bruntwood SciTech is a joint venture between Bruntwood, Legal & General and Greater Manchester Pension Fund.