US firm to invest £4.4million for R&D centre in Belfast

Enterprise Minister Arlene Foster today announced a £4.4million investment by NaviNet, America's largest real-time healthcare communications network.

In its first expansion outside the US, Boston-headquartered NaviNet is to set up a software R&D centre in Belfast, creating nearly 60 highly skilled, high-value jobs over the next three years. Invest Northern Ireland has offered £944,000 towards the project.

Announcing the investment the Minister said: "NaviNet is a highly innovative company which, over the last ten years, has developed unique ICT solutions for the healthcare industry in the US. The company has ambitious plans to win new business and significantly increase its revenues over the next several years. After considering a number of potential international locations, its decision to invest in Northern Ireland is a mark of its confidence in this region's competitiveness and the availability of talented ICT professionals.

"This investment will deliver over £2 million annually in additional salaries and underlines Invest NI's ability to secure quality investors for the region. NaviNet will join the growing cluster of world-class healthcare and ICT companies here and enhance our growing global reputation for excellence."

Brad Waugh, NaviNet's President and Chief Executive Officer, said: "At a time when healthcare reform is one of the most pressing issues facing the American government and public, NaviNet has committed to investing in resources both domestically and internationally to deliver solutions that address US healthcare challenges and contribute to improving quality of care and reducing costs.

"NaviNet looked at various options and locations for our new R&D centre, but as a result of discussions with Invest NI and our recognition of the many attractions of Northern Ireland as a good place to do business, notably the quality of the workforce, we decided to invest here. I'm confident that the Belfast centre will play an important role in the future growth and success of NaviNet."