Medical diagnostics firm Randox Teoranta plans to create more than 470 new jobs over the next six years, as part of a €25 million expansion of its plant in Co Donegal.

The company currently employs 66 people in Dungloe, but hopes to increase its workforce to 540 by 2020.

Founded in 2008 with the support of Udaras na Gaeltachta, the company is part of the global diagnostics group Randox Laboratories, headquartered in Co Antrim.

In addition to engineering and manufacturing, Randox Teoranta conducts research into conditions impacting human health such as Alzheimer’s and diseases of the kidneys and liver.

Randox Laboratories founder and managing director Dr Peter FitzGerald said the company was planning to create cutting-edge scientific and engineering opportunities on a major scale, which would mean drawing talent from far and wide in order to drive innovation in human health.

“Our strategy for Randox Dungloe 2020 is a strong demonstration of our commitment to the region, and indicates our commitment to Randox Teoranta as an integral part of our future plans,” he said.

“Our key message today is one of partnership, harnessing the power of the community and the diaspora is the key to help this company grow,” he added.

The company said it would be keen to engage locally and with key diaspora networks to access people who may have moved away for education or employment, as well as those with a broader connection to the region.

Minister of State for the Gaeltacht Joe McHugh said the investment by Randox will have benefits for the whole North West region.

“This commitment to the surrounding communities will act as a new roadmap, allowing us to position the region as a centre of excellence in the fields of engineering and life sciences”.

Udaras na Gaeltachta chairwoman Anna Ni Ghallachair said the agency was committed to working with Randox to move the Dungloe plant to a world class knowledge centre.

“The spectrum of highly-skilled job-types that this investment could create would provide significant opportunities to the Gaeltacht labour-force now and in the future,” she said.

Randox is a global market leader within the in vitro diagnostics industry, developing innovative diagnostic solutions for hospitals, clinical, research and molecular labs, food testing, forensic toxicology, veterinary labs and life sciences. The parent group employs over 1,300 people, and trades in 145 countries.