The new investment will be spread across five years and has the potential to create up to 1,000 high-skill jobs in the region, according to IDA Ireland.

The firm is a world leader in glucose monitoring technology for people living with diabetes.

On top of the 1,000 jobs expected to be created when the facility is up and running, a further 500 jobs will be created through construction of the facility.

Subject to planning permission, the Ireland site will be Dexcom’s first manufacturing site in Europe, expanding upon the company’s existing capabilities in the U.S. and Malaysia.

The new facility will have the capacity to produce millions of Dexcom CGM sensors each year, helping to improve the lives of people with diabetes around the world. Subject to planning approval, the new facility will be located on the IDA Ireland strategic landbank in Athenry.

The facility in Athenry will contain a highly automated and efficient manufacturing operation with an emphasis on green technologies.

“This is an important strategic investment by Dexcom in Athenry, Co Galway, a regional location that will greatly benefit from the widespread economic and employment boost that an announcement such as this has the potential to deliver," said Michael Lohan, CEO of IDA Ireland.

“Ireland’s track record in attracting MedTech investments from major innovators, speaks for itself. This latest investment only enhances that further,” he added.