In a major boost to the medical devices manufacturing in Telangana, the leading manufacturer of coronary stents in the country, SMT (Sahajanand Medical Technologies Pvt Ltd) has announced an investment of Rs 250 crore to set up an integrated manufacturing unit of minimally invasive life-saving medical devices at the Medical Device Park, Sultanpur.
The proposed unit is expected to generate 2200 direct and 500 indirect employment opportunities in the state. The unit will have a manufacturing capacity of more than 1.25 million stents per annum. Surat-based SMT is currently the number 2 player in the Indian market for stents and hopes to capture the pole position in two years.
Earlier before the announcement was made, the SMT leadership team led by Bhargav Kotadia, Managing Director of SMT met IT and Industries Minister KT Rama Rao .
“We are delighted to welcome SMT to Hyderabad’s vibrant life sciences ecosystem. It is indeed a pleasure to have a company that manufactures technologically sophisticated implantable products such as stents at global standards set up Asia’s biggest facility in Hyderabad. This further reinforces Telangana’s position as a preferred destination for innovator and technology companies,” said Minister KT Rama Rao.
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