Minister for Industries and Commerce, KT Rama Rao on Friday inaugurated the first phase of the stent manufacturing unit of Sahajanand Medical Technologies (SMT) here and said it will boost 'Make in India' initiative and will reduce dependency on foreign stents.
The minister congratulated SMT on the inauguration and said, "Today's inauguration of SMT's state-of-the-art stent manufacturing and cardiac devices facility is a step towards making available high quality, indigenously made, affordable healthcare products that will be made from the state of Telangana for a global populace. I am also happy to learn that this facility when fully operational will create direct employment of over 2,000 people, besides indirect employment throughout the value chain."
This state-of-the-art manufacturing campus will also house SMT's R&D centre, which will be focused on developing advanced medical products in interventional, structural, endovascular and closure products in the niche domain of cardiology. The manufacturing unit will be instrumental in generating employment opportunities for close to 2000 people in the state.
On this, the minister said, "The global R&D centre will employ over 300 highly qualified scientists. The facility will give a significant boost to 'Make in India' stent manufacturing and reduce India's dependency on foreign stents which are imported with heavy duties."
He said that over the years the state of Telangana recognized the medical device segment as a high-potential, high growth sector, which presents unlimited opportunities and a preferred destination for investment and expansion. The state has made sure that it has a skilled workforce, favourable policies, and best-in-class infrastructure to help companies set up facilities that are of global standards.
SMT is a global leader and amongst the largest cardiovascular manufacturing companies in structural and interventional devices. This will be the second manufacturing unit of SMT that will manufacture 1.2 million stents and 2 million catheters when in full capacity. The facility will also boast minimally invasive new-age and highly advanced cardiac products like Transcatheter Aortic Valve Implantation (TAVI) and Heart Occluders used in patients ranging from the elderly population to paediatrics.
On the occasion, Chairman of Sahajanand Group of Companies, Dhirajlal Kotadia; Member of Parliament from Medak district K Prabhakar Reddy; Member of Legislative Assembly of Patancheru, G Mahipal Reddy; Chairman of Telangana state industrial infrastructure corporation, G Ballamallu; Principal Secretary, (IT, E&C) of Government of Telangana, IAS Jayesh Ranjan; VC and Managing Director, TSIIC, EV Narsimha Reddy; Director (LS), Government of Telangana Shakthi Nagappan; Managing Director of SMT, Bhargav Kotadia; Chief Executive Officer of SMT, Ganesh Sabat, and leaders of various MedTech companies, senior clinicians, cardiologists and healthcare leaders were present at the event. .
( With inputs from ANI )
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