Bausch Health Companies will invest to expand contact lens manufacturing capacity at its Bausch + Lomb sites in Waterford, Ireland and Rochester in the US. The company is adding multiple production lines at these two sites to support the manufacture of its innovative daily disposable silicone hydrogel (SiHy daily) contact lenses.
“Bausch + Lomb is one of the world’s most respected eye health brands, due in large part to the high-quality contact lenses manufactured at the Rochester and Waterford sites. By expanding the production capacity at both locations, we will continue to build on their legacies as we invest for the future,” said Joseph C. Papa, chairman and CEO, Bausch Health. “The increased manufacturing capabilities will enable us to meet our anticipated global customer demand for the Bausch + Lomb daily disposable silicone hydrogel contact lenses, a product that is critical to both our ongoing transformation and to our mission of improving people’s lives globally.”
SiHy daily contact lenses are known as one of the company’s “Significant Seven,” which is a suite of seven key products that collectively are expected to generate more than $1 billion dollars of annualized revenue, at peak, in the next five years. Bausch Health believes these products will help drive the long-term, future growth of the Company. Recently launched in Japan, SiHy daily contact lenses are expected to be approved and launched in other areas of the world over the next few years.
The investment in Ireland is supported by the Irish Government through IDA Ireland, the agency responsible for the attraction and development of foreign direct investment in Ireland.
Mark Hennessy, Bausch + Lomb Waterford site lead, said: “This investment, which will create 100 new jobs, is a testament to the efforts and commitment of all employees in the Waterford facility. It enables us to take advantage of the opportunities that are emerging in the contact lens and eye health sector in the coming years. The corporation has placed enormous confidence in our team with this investment, and it is a reflection of our track record of recent performance and an acknowledgement of our commitment to continue to deliver into the future.”
“This investment will further strengthen the Waterford plant’s position in supporting Bausch + Lomb’s efforts to increase its share of the contact lens market, following an earlier investment between 2015 and 2017. That programme added 300 employees at the Waterford facility, bringing the current total employment there to 1,350. I am looking forward to the coming years as a time of great opportunity and further growth,” he added.
Martin Shanahan, CEO IDA Ireland, said: “I welcome the news that Bausch + Lomb is to expand its manufacturing capabilities at its Waterford, site creating an additional 100 jobs. This adds to Ireland’s reputation in this sector; we are the second largest exporter of MedTech products in Europe with 33 per cent of the global supply of contact lenses made here. Winning investment for regional locations is a key focus for IDA Ireland and the resulting increase in employment this expansion will create is very important for the South East Region and I wish the company continued success.”
