Hyderabad: Industries minister K.T. Rama Rao on Friday inaugurated Asia's largest stent manufacturing and R&D facility put up by Sahajanand Medical Technologies (SMT) at Hyderabad Medical Devices Park, Sultanpur, in Sangareddy district.
This is the Phase I of the company’s Project Sanjeevani. SMT, which is India’s first and largest stent manufacturing company with a market share of over 30 per cent, is investing Rs 530 crore in the project.
In the first phase, it has created a facility in about two lakh sq ft with a capacity to make three lakh balloon catheters here.
The Hyderabad facility will eventually make more than one million stents and two million balloon catheters. The facility will create direct employment to 2,000 people locally. In addition, the research wing will also employ about 300 scientists.
Speaking on the occasion, Rao said, “It is a matter of pride that Telangana through the medical devices park will immensely contribute to reducing the medical expenditure in the country. SMT’s unit will boost local manufacturing. About 70 countries will get made-in-Telangana, made-in-India products from this facility at Sultanpur.”
Rao stated that patients were incurring huge expenses all these days as stents were imported.
“The stents will now be available at affordable rates since they will be produced in the state,” he said.
“Sahajanand Medical Technologies (SMT) state-of-the-art facility will further strengthen the country’s ecosystem in technological innovation of structural, interventional and closure cardiac devices reducing import dependency in this niche segment,” Rao said....