S3V Vascular Technologies to invest Rs 250 crore in Telangana Medical Devices Park
Hyderabad: The Medical Devices Park in Telangana won a new investment with S3V Vascular Technologies deciding to invest Rs 250 crore to set up its integrated manufacturing facility to manufacture high-end, critical and lifesaving neuro and cardiac medical devices in Telangana. The company will manufacture a drug eluting stent, which will globally be the first […]
Hyderabad: The Medical Devices Park in Telangana won a new investment with S3V Vascular Technologies deciding to invest Rs 250 crore to set up its integrated manufacturing facility to manufacture high-end, critical and lifesaving neuro and cardiac medical devices in Telangana.
The company will manufacture a drug eluting stent, which will globally be the first to be manufactured from an alloy that would be devoid of both nickel and cobalt allergenic ions. The company also proposes to manufacture metallic Bioresorbable Vascular Scaffolds that will reduce the re-procedure rates.
S3V Vascular Technologies Promoters and Directors Badari Narayan and Dr Vijaya Gopal met Industries and IT Minister KT Rama Rao on Thursday and made this announcement. Industries Principal Secretary Jayesh Ranjan and Life Science Director Shakthi Nagappan also attended the meeting.
“I am delighted that Hyderabad is emerging as the Medical Devices Hub of India and we welcome S3V Vascular Technologies to our vibrant ecosystem. The Medical Devices Park in Telangana has witnessed phenomenal growth since its launch in 2017 with investment commitment of Rs 1,500 crore and total employment of around 7,000 direct jobs. Government of Telangana is committed to promote research, development, innovation and manufacturing in this segment,” said Rama Rao.
“We plan to invest Rs 250 crore in Telangana to bring advanced technologies that not only makes newer treatment options affordable to the common man but also reduce the healthcare burden on the Central and State Governments by reducing repeat intervention procedures,” said Badari Narayan.
The proposed facility will generate total direct employment of around 500 people along with indirect employment for additional 250 people. It will have specialised divisions- neuro interventional medical devices along with neuro training centre, cardio interventional medical devices and drug coated critical care catheters. This facility is being designed as per USFDA norms and will be constructed on five acre in the Medical Devices Park. It will built-up area of one lakh sqft including 50,000 sqft of Class 10K clean room.
Medical Devices Park in Telangana is country’s largest Medical Device Park spread over 302 acre in Hyderabad. Since its launch in 2017, the park has received good response with more than 50 companies lining up to set up their manufacturing and research and development units. The Telangana Government has taken various initiatives to strengthen the cluster further.
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