Hyderabad: Sahajanand Medical Technologies (SMT), a manufacturer of coronary stents, which in October 2018 announced its plans to set up Asia’s largest stent manufacturing facility with an investment of Rs 250-crore at Sultanpur Medical Devices Park in Sangareddy District of Telangana, is gearing up to complete the unit. The facility will go on stream next year.
Sharing the plans, Ganesh Sabat, CEO, Sahajanand Medical Technologies, told Telangana Today, “Our Hyderabad plant will be the Asia’s largest stent manufacturing facility. The proposed plant will be up and running by 2020 with an investment of Rs 250 crores. The plant will also have a research and development (R&D) centre. The unit will be manufacturing one million stents and two million balloon catheters per annum.”
The facility will be generating employment for nearly 1,200 to 2,000 people. The stents manufactured in Hyderabad plant will be for both India and international markets such as the US, Europe and Japan.
On the R&D emphasis, he added, “We invest heavily in research and development. As a policy, we earmark 10 per cent of our revenue to be spent in R&D every year. Recently we opened an R&D centre in Ireland. We have heavily invested in a randomised trial in Europe to prove the quality of our product in a global scale.”
Last five years, the company has introduced multiple innovative technologies into drug eluting stents (DES). The company’s current ultra-thin platform with biodegradable polymer is one of the most advanced technologies in the world.
“As an India player and a market leader, we are committed to provide the best and most advanced healthcare solutions to the Indian patients. The company occupies 21 per cent market share in the India’s stent market. The stent market is valued at Rs 3,000 crore, whereas if we look at global market, it is valued at $2-3 billion in the US and $1 billion in Europe.”
SMT is a pioneer in making stents in India. The company is present in 70 countries worldwide. In a recently published trial in an international journal ‘Lancet’, the company has proven its stent is as good as Xience from Abbott and in re-procedure, its stent is 61 per cent better than Xience. Backed by the study, the company received a lot of support from hospitals and cardiologist community in India. The company has grown by over 50 per cent year-on-year. It is witnessing this growth for last six years in domestic as well as the export market.
SMT is direct in the market without any channel partner. The company has benefited substantially because of its quality products and supply chain system, he pointed out.