Telangana is all set to get Asia’s largest stent manufacturing facility as Surat-based company Sahajanand Medical Technologies (SMT) has decided to set up Medical Devices Park in Sultanpur of Sangareddy district. The project will spruce up State’s endeavour to manufacture medical equipment and generate employment avenues.
On Monday, Telangana Health Minister Etela Rajender and Minister of Labour, Employment, Women and Child Development Ch Malla Reddy laid the foundation stone for the project.
As per the reports, the unit spread across 20 acres would cost Rs 250 crore. The facility which will have a manufacturing capacity of more than 1,25 million stents per annum, will provide direct employment to 2,200 and indirect employment to 500 people.
SMT is India’s leading developer and manufacturer of minimally invasive coronary stent systems. Founded in 1980, it has a market share of over 30 per cent with presence in more than 800 cath labs and hospitals in the country.
“Hyderabad is becoming the dynamic centre for all forms of investment, from IT companies, healthcare to manufacturing units of medical supplies,” Ministers were quoted saying by New Indian Express.
Earlier, SMT chairman Dhirajlal Kotadia and managing director Bhargav Kotadia called on TRS working president KT Rama Rao and explained him their business plan.
Rama Rao later tweeted: “Delighted to welcome Sri Dhirajlal Kotadia, Chairman & Bhargav Kotadia, MD of SMT (Sahajanand Medical Technologies). SMT will be breaking ground tomorrow to setup Asia’s largest stent manufacturing facility at Medical devices park, Sultanpur. More than 2,000 jobs to be created. Medical devices manufacturing in India will naturally create jobs, but more importantly will reduce dependence on importing and will also lower the cost of these important products. Delighted that Hyderabad will be an important hub for Medical devices”.