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TSIIC Allocates 20 Acres Land To Set Up Cardiac Stent Manufacturing Unit At Medical Devices Park In Telangana

The Telangana State Industrial and Infrastructure Corporation (TSIIC) has allocated 20 acres of land to set up Asia’s largest cardiac stent manufacturing plant at medical devices park located at Sultanpur in Sangareddy district of Telangana.

As part of this programme, Indian medical device company, Sahajanand Medical Technologies (SMT) has come forward to invest Rs. 250 crore to set up the unit.

SMT is India’s second leading provider of cardiac stents in the country and abroad.

During the inaugural ceremony of the programme, Telangana health minister said, Telangana state government is committed to make the state a hub for pharma, biotechnology and medical devices sectors in the country.

“Already Telangana is known for its bulk drugs, formulations and vaccine manufacturing industries in the country. Now we have decided to make Telangana the medical devices manufacturing hub and had long back established a special economic zone (SEZ) for the same.

With this new investment, SMT will set up its state of the art southern regional manufacturing campus which is expected to manufacture 1.25 million cardiac stents per annum from this unit.

Medical Devices Exporter Poly Medicure Eyes 17-18% Revenue Growth

The New Delhi-based Poly Medicure Limited, one of the leading manufacturer and exporter of medical devices, is eyeing 17-18% revenue growth for the next financial year 2019-20.

The company is expanding its manufacturing footprint by investing in capacity expansion to meet new demand over the next few years.

On expansion, Himanshu Baid, MD, Poly Medicure said, "We are setting up a new plant at Mahindra Special Economic Zone (SEZ) in Jaipur and also doing phase 2 expansion of IMT Faridabad plant. Besides, we are doing further capacity expansion in the existing plants in Faridabad. We have registered growth in most of our key markets and hope to continue this momentum with a sharper focus on innovation. We will also focus on US and European markets in near future and will be expanding our reach in Africa”.

The company is also planning to launch new products in core therapy areas in vascular access, infusion therapy accessories, dialysis, blood management and diagnostic in near future. With its strong research and development (R&D) initiatives, the company has been granted 230 plus product and process patents globally and has also filed for grant of an additional 210 plus patents.

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