Hyderabad

Stent maker SMT sets up global hub near Hyderabad

Minister for IT K.T. Rama Rao at the inauguration of Sahajanand Medical Technologies manufacturing unit in n Sultanpur, near Hyderabad on Friday. | Photo Credit: MOHD ARIF

Vascular devices maker Sahajanand Medical Technologies (SMT) has opened the first phase of its ₹ 250 crore global hub for manufacturing and R&D at Telangana government-promoted Medical Devices Park in Sultanpur, near Hyderabad. Developed on 20 acres, in the first phase the minimally invasive vascular devices facility comprises 2 lakh sq ft of built-up area including 15 clean rooms. On completion of all phases it will be largest such in Asia, the company said at the inauguration of the facility by Industries and IT Minister K.T. Rama Rao on Friday. The R&D centre will focus on developing advanced medical products in interventional, structural, and peripheral vascular interventions, it said.

CEO Ganesh Sabat said the company makes coronary stents, balloon catheters, occluder and valves and has manufacturing units in Surat, Bengaluru as well as Thailand. It intends over time to make all the products at the plant in Telangana. The plan is to make 10 lakh stents and 20 lakh balloon catheters a year. In Surat where its largest facility is located, SMT makes about 7 lakh stents.

Initially balloon catheters will be made followed by stents, at Sultanpur, he said, adding that of the ₹ 250 crore investment proposed, the company has spent ₹ 130 crore on the first phase. In two years, 1,000 people are likely to be employed at the plant here. Complimenting SMT for implementing the project through the pandemic, Mr. Rao said inauguration of the facility is a milestone for the Medical Devices Park. It is a step towards making available high quality, indigenously made, affordable healthcare products from Telangana for a global populace.

The Medical Devices Park has investment commitments of ₹ 1,500 crore from as many as 50 companies, whose facilities are likely to generate 7,000 direct jobs. The Minister said this, highlighting a holistic view Telangana government is pursuing for development of medical devices sector. He also offered to take up on behalf of the companies, issues the sector is facing with the Central government. The sector holds considerable promise in terms of reducing import dependence and ought to be given the impetus it required, he said.

When fully operational the SMT facility here will create direct employment for over 2,000 people besides indirect employment throughout the value chain, Mr. Rao said, urging the company’s leadership to consider as many local youth as possible for the jobs.

Managing Director Bhargav Kotadia said medical devices is a sunshine sector that is expected to touch $15 billion by 2025. SMT is among top five companies in highly developed markets, accounts for 31 market share and exports to nearly 70 countries. The new facility in Telangana will provide the company a huge boost towards achieving absolute global leadership.

Chairman of Sahajanand Group of Companies Dhirajlal Kotadia traced the growth of the company and its emphasis on improving the affordability of medical devices to benefit the common man. The company said the facility has been built keeping in mind compliance requirement for a number of national and international regulatory bodies and it has qualified under the Production Linked Incentive Scheme of the Centre.


Our code of editorial values

Related Topics
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

Printable version | Apr 15, 2022 11:10:29 pm | https://www.thehindu.com/news/cities/Hyderabad/stent-maker-smt-sets-up-global-hub-near-hyderabad/article65324355.ece