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AMTZ, Kyrgyzstan Govt Ink MoU For
Supply Of Medical Equipment
Andhra Pradesh MedTech Zone (AMTZ) has inked a
Memorandum of Understanding (MoU) with the Kyrgyzstan government for the supply
of medical equipment.
Kyrgyzstan Federal Minister of Health visited
Andhra Pradesh MedTech Zone Limited. He toured the production and research
facilities of industry leaders including Transasia Bio-Medicals Ltd., Molbio
Diagnostics, and Time Medical Systems, among other centers of AMTZ. An MOU has
been signed with Kyrgyzstan for supply of medical equipment from AMTZ.
An enterprise under the Andhra Pradesh government, AMTZ is a
270-acre zone, dedicated to medical device and component manufacturers. The zone
provides capital-intensive scientific facilities required by most medical device
manufacturers and 250+ modern state-of-the-art independent manufacturing units.
https://www.medicalbuyer.co.in/amtz-kyrgyzstan-govt-ink-moufor-supply-of-medicalequipment/?utm_source=newsletter&utm_medium=email&utm_campaign=March3
March 18, 2024
AM Naik, Madhusudan Kela Invest In Medical
Devices Company S3V Vascular Technologies
Mysore-based S3V Vascular Technologies Ltd, a medical devices
manufacturing company focused on neurovascular devices to treat strokes, has
raised a series B round of funding from investors including former L&T chairman
AM Naik and veteran investor Madhusudan Kela, the company’s founder told
Moneycontrol in an interaction.
The company will use the funds to build a Rs300-crore
integrated manufacturing facility for neurovascular devices at Mysore.
Badari Narayan, Promoter, Director and CEO – S3V Vascular
Technologies, said that stroke is the fourth leading cause of death in India,
affecting nearly 20 lakh individuals annually.
“The post-COVID era has witnessed a surge in stroke cases,
especially among young adults,” he said.
However, he added that the current treatment for acute
ischemic stroke called mechanical thrombectomy, an interventional procedure
performed in a cath lab to physically remove clots lodged in the brain's
vessels, costs about Rs 5 lakh, thereby making it very expensive for most people
in the country.
Narayan said that in comparison to mechanical thrombectomy,
S3V’s devices cost just around Rs 75,000, making the treatment more affordable.
Narayan said that the new manufacturing facility will be
ready in 12 months and with the addition of the new facility the company will be
able to produce around 60,000 to 70,000 devices per month.
“At peak production, we expect that we will be able to
generate revenues of approximately Rs 500-600 crore,” said Narayan.
The company plans to apply for US FDA (food and drug
administration) and European approvals and plans to export its devices to
various Asian, Middle East and East European markets.
Narayan said that he expects about 45% of the company’s
revenue to come from the domestic market with the rest coming from exports.
The company is also working on launching cardiology related
medical devices.
Narayan said that the Indian market offers immense potential
for advanced medical products as currently, around 90 percent of medical devices
are imported, presenting an opportunity for growth in the sector.
“With a population of 1.4 billion, India is expected to
conduct 5 lakh neuro interventions and 15 lakh cardiovascular procedures
annually by 2030,” he added.
https://www.moneycontrol.com/news/business/am-naikmadhusudan-kela-invest-in-medical-devices-company-s3vvascular-technologies-12459901.html
, MARCH 14, 2024
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