2nd November 2016

Magstim officially opens expanded Welsh headquarters

Carmarthenshire-based medical device manufacturer celebrates opening ceremony of expanded facilities with First Minister, Carwyn Jones.

The Magstim Company Limited, which has a global reputation for manufacturing sophisticated medical devices used in neuroscience, psychiatry and ENT surgery, is set to celebrate the opening ceremony of its expanded headquarters in Carmarthenshire on Wednesday 2nd November.

First Minister of Wales, Carwyn Jones, will be officially unveiling the facilities, following a three-year expansion project supported by Welsh Government. The state of the art manufacturing facilities will support Magstim’s strategic growth in Transcranial Magnetic Stimulation (TMS) and Intra-Operative Nerve Monitoring (IONM) technology markets respectively.

The Welsh Government has provided a total funding package of £2.7 million. This has included the construction of a 13,500 sq ft extension to Magstim’s existing facility in Whitland and support for the creation of new jobs.

TMS uses magnetic energy to stimulate areas of the brain, without causing pain and while the subject is conscious. Magstim was founded in Wales 25 years ago by the originators of TMS technology.

First Minister Carwyn Jones said:

“Magstim embodies our vision for the Welsh life sciences sector. We are committed to supporting facilities at the cutting edge of science to provide highly skilled jobs and innovative, world class healthcare solutions.

“The products manufactured here have the potential to revolutionise treatments and improve the lives of millions of people across the globe with brain disorders. I am delighted to open this extended facility which will provide much-needed space for the continued growth and success of the company.”

Speaking of the expansion, Executive Chairman, Steve Godber commented:

“The past year has been very important for Magstim: we passed our 25th anniversary, we brought in new investors to back our expansion plans, and now we are opening our new factory. Having the support of Telegraph Hill Partners from San Francisco, has enabled us to start up a US operation and invest heavily in new product development. Having the support of the Welsh Government, has enabled us to bring all parts of the Company together on a single site and will give us the facilities to become a world class development and manufacturing centre. We still have a lot of to do to achieve our goals but with this level and quality of support we have every chance of succeeding.

We are very proud of our business and its place in the local community. The support of the Welsh Government is very important in enabling us to carry on growing and developing here in Whitland.”

Magstim stimulators are the most widely-used TMS devices in the world, used to research and treat a variety of brain disorders. The Company’s products were recently approved for sale in the USA, specifically for the treatment of Major Depressive Disorder (MDD) in patients who have failed to respond to antidepressant medication. This opens up a significant new market for the Company, as well as an attractive treatment option for patients suffering from MDD globally.