Convatec announced today that it plans to invest more than $1 billion over the next decade to accelerate its R&D efforts around the world.
The global, multi-year planned investment includes $600 million going into the U.S. over the next 10 years.
London-based Convatec said its planned investment marks a significant milestone in its mission, underlining its commitment to both the U.S. and UK as cornerstones of its global growth strategy. The company said the significant investment in the U.S. emphasizes its commitment to “its most significant market globally.”
U.S. expansion plans include a significant expansion of Convatec’s R&D facilities in Boston by the end of 2025. It expects to increase capacity by 50% and further enhance lab, testing and collaboration space.
In the UK, Convatec plans to invest approximately $650 million. It plans to build a new state-of-the-art R&D hub in Manchester, set to open in 2027. The new facility would serve as one of the largest in the company’s global network of technology and innovation centers. It could provide common or shared R&D capabilities and competencies across all four of Convatec’s categories: advanced wound care, ostomy care, continence care and infusion care.
Convatec also expects the UK site to house cutting-edge analytical R&D capabilities, regulatory functions and digital health innovation. The company already invests more than $100 million (approximately 5% of its revenue) annually in R&D. It also plans to sustain investment in other key European locations, supporting its network of innovation in Denmark and Slovakia, plus its onsite R&D teams in Mexico and the Dominican Republic alongside its global manufacturing network.
The Manchester R&D hub should home about 200 highly skilled workers, largely transferring from its existing Deeside R&D site. The Deeside, North Wales location should remain unaffected by the change after the move completes in 2027.
Commentary from Convatec officials
Jonny Mason, interim CEO 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.”
Dr. Divakar Ramakrishnan, chief technology officer and head of R&D 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 U.S. and UK life sciences sectors and position Convatec at the forefront of medical technology innovation for years to come.”
