S3V Vascular Technologies will invest ₹250 crore at the Medical Devices Park in Hyderabad to manufacture high-end critical lifesaving neuro and cardiac medical devices.
The company will manufacture drug eluting stent and bioresorbable vascular scaffolds that will reduce the re-procedure rates.
This facility is being designed as per USFDA norms and will be constructed on five acres of land, with a built-up area of one lakh square feet.
Promoters
Founded by the alumni of the Indian School of Business (ISB), the company has a research and development centre and a pilot manufacturing facility in Mysore.
S3V Vascular Technologies Promoters Badari Narayan and Vijaya Gopal have met Telangana IT and Industries Minister K T Rama Rao on Thursday to brief him about the company’s plans.
In a statement, K T Rama Rao said that the five-year-old park has got investment commitments to tune of ₹1,500 crore.
“We have been developing differentiated technologies in minimally invasive healthcare. We plan to invest ₹250 crore in Telangana with our commitment to bring advanced technologies that not only makes newer treatment options affordable to the commonman but also reduce the healthcare burden on the Central and State Governments by reducing repeat intervention procedures,” Badari Narayan said.
The facility would comprise three specialised divisions -- Neuro Interventional Medical Devices; Cardio Interventional Medical Devices; and Drug Coated Critical Care Catheters.