Asia’s largest stent manufacturing unit to come up in Telangana
In a major boost to the medical devices manufacturing in Telangana, Sahajanand Medical Technologies Pvt Ltd SMT, the leading manufacturer of coronary stents in the country,has announced an investment of Rs 250 crore for setting up an integrated manufacturing unit of minimally invasive lifesaving medical devices at the Medical Device Park, Sultanpur
Hyderabad: In a major boost to the medical devices manufacturing in Telangana, Sahajanand Medical Technologies Pvt Ltd (SMT), the leading manufacturer of coronary stents in the country, has announced an investment of Rs 250 crore for setting up an integrated manufacturing unit of minimally invasive life-saving medical devices at the Medical Device Park, Sultanpur.
The proposed unit is expected to generate 2,200 direct and 500 indirect employment opportunities. The unit will have a manufacturing capacity of more than 1.25 million stents per annum. Surat-based SMT is currently the number 2 player in the Indian market for stents and hopes to capture the pole position in two years. Earlier before the announcement was made, the SMT leadership team led by Bhargav Kotadia, Managing Director of SMT met IT and Industries Minister KT Rama Rao at his Camp Office on Tuesday.
“We are delighted to welcome SMT to Hyderabad’s vibrant life sciences ecosystem. It is indeed a pleasure to have a company that manufactures technologically sophisticated implantable products such as stents at global standards set up Asia's biggest facility in Hyderabad. This further reinforces Telangana's position as a preferred destination for innovator and technology companies,” said Minister K T Rama Rao.
SMT has already grabbed a strong hold onto the stent market in India by growing from 11 per cent share, recorded last year to 22 per cent share according to the latest statistics.
“This was a big move for SMT given that its home base is in Surat, Gujarat. But the responsiveness of the government, favorable policies such as TS-IPASS, best-in-class infrastructure and strong talent ecosystem made SMT’s move to Hyderabad an easy decision.