A MEDICAL DIAGNOSTICS company, Randox Laboratories, has announced it will recruit 242 people thanks to an investment boost.

The company reports an expansion to the tune of £15.8million as well as £2.4million in assistance from Invest Northern Ireland.

Recruitment has already begun for the new roles, which will allow the company to upgrade its facilities and strengthen its sales, marketing and production capability, and will collectively deliver an additional £5.6 million in salaries annually.

The company describes itself as “a global leader in the development of medical diagnostics”.

Its Managing Director, Dr Peter Fitzgerald, said in a press release today:

We have set ambitious revenue targets for the next few years which will depend on increasing our sales and marketing activity and penetrating new markets.

We have identified sales opportunities in the rapidly expanding economies of Brazil, Russia, India and China and will be targeting these with our extensive portfolio of products. We also have many new revolutionary products planned for release in 2011 that will make patient testing faster, simpler and more accurate.

The independent, privately-owned company currently employs over 850 people worldwide including 620 at its headquarters in Crumlin. Some 95% of its products are exported and the company invests over £7 million in research and development each year.

Minister for Enterprise, Trade and Investment Arlene Foster said:

Through the new jobs created, this investment will also benefit the wider local economy, in terms of salaries and employment opportunities.