Brexit: What it means for medtech

Business Growth

The Brexit vote has resulted in an air of uncertainty amongst SMEs in Ireland. In a report released by the Department of Business, Enterprise and Innovation stating that over 50% have reported an impact already and a third stating they will require finance to deal with the impacts to working capital. In recent weeks the MedTech sector has released advice and guidance on the issue.

In their most recent update, the Irish MedTech Association have discussed what Brexit means for the MedTech sector in Ireland. This update shares the opportunities and their relative risks and also the how the organisation will lobby on the issue. Although Brexit is raising challenges and risks, there is a huge opportunity for Irish MedTech companies to expand their businesses into Europe.

You can check out the update here.

Rachel Shelley, the Head of Medical Technologies at IDA Ireland further discussed the opportunity within the sector to attract US MedTech and pharmaceutical businesses. Rachel shares how this is an opportunity for these US businesses to set up their European headquarters in Ireland.

Ms Shelly states that with excellent manufacturing expertise, the talented workforce and financial and regulatory advantages, Ireland is ripe to grow our international MedTech industry in Ireland.

And with this growth in the industry, comes a requirement for cash flow. InvoiceFair can help MedTech businesses meet the demand and thrive with access to working capital.

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