Hyderabad: In a major boost to the medical device manufacturing industry and life sciences in Telangana, noted minimally invasive coronary stent manufacturer from Surat, Sahajanand Medical Technologies (SMT), has decided to set up Asia’s largest stent manufacturing unit at the Medical Devices Park in Sultanpur of Sangareddy.
The mega stent manufacturing unit will come up at a cost of Rs.250 crore in three phases at the Medical Devices Park. Billed as Asia’s largest minimally invasive stent manufacturing unit, the facility will provide direct employment to 2,200 skilled workers and generate indirect employment to thousands in the neighbourhood.
On Tuesday, Sahajanand Medical Technologies managing director Bhargav Kotadia, along with a team of senior officials from the company, met Minister for Industries and Commerce KT Rama Rao and Principal Secretary Jayesh Ranjan to finalise the details related to the stent manufacturing facility at Sultanpur.
Once fully operational, the annual capacity of the SMT stent manufacturing facility will be 1.2 million stents and another 2 million catheters that find numerous clinical applications in the hospital sector.
Speaking on the occasion, Kotadia acknowledged the highly developed infrastructure in Hyderabad, which prompted SMT to come out of Surat.
According to a press release, while interacting with the Industries Minister, Kotadia was all praise for the State’s investor-friendly policies, ease of doing business and the TS-iPASS system for speedy clearance for industries here.
Kotadia pointed out that the presence of unparalleled infrastructure and the latent talent pool in Hyderabad made it easy for SMT to zero in on Hyderabad.
“We are sure that in the coming years, Hyderabad will emerge as the favourite destination for medical device manufacturing in the country,” Kotadia said.
The minister, welcoming the stent manufacturer, said Hyderabad was already on top in the field of life sciences. “With the advent of the mega stent manufacturing unit, Telangana in the coming years will become a centre for medical device manufacturing sector in the country,” he said.