Sahajanand Medical Technologies (SMT) has set up its global hub for manufacturing and research and development of of minimally invasive cardiovascular devices at the Medical Devices Park in Hyderabad.
KT Rama Rao, Minister for Industries & Commerce, Government of Telangana formally inaugurated the first phase of the facility here on Friday.
SMT is a global leader and amongst the largest cardiovascular manufacturing company 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 state-of-the-art manufacturing campus of the Mumbai - based SMT will also house SMT’s R&D centre, which will be focused towards 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 addition,, the R&D centre will also employ over 300 scientists.
The facility will give a ‘significant boost’ to Make in India initiative in stent manufacturing and reduce India’s dependency on foreign stents which are imported with heavy duties, according to a release.