S3V Vascular Tech setting up unit in Telangana
Will invest Rs250 cr for manufacturing high end medical devices including critical life saving neuro and cardiac medical devices at Medical Devices Park; Proposed facility will generate 500 direct, 250 indirect jobs
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Hyderabad: Medical Devices Park in Telangana witnessed another important milestone with S3V Vascular Technologies deciding to set up their state-of-the-art integrated manufacturing facility to manufacture high end critical lifesaving neuro and cardiac medical devices in Telangana.
The company will manufacture a drug eluting stent, which will globally be the first to be manufactured from an alloy that would be devoid of both Nickel and Cobalt allergenic ions. The company in its facility also proposes to manufacture metallic Bioresorbable Vascular Scaffolds that will reduce the re-procedure rates.
Telangana Industries Minister KT Rama Rao said: "I am delighted that Hyderabad is emerging as the Medical Devices Hub of India and we welcome S3V Vascular Technologies to our vibrant ecosystem. The Medical Devices Park in Telangana has witnessed phenomenal growth since its launch in 2017 with investment commitment of Rs1,500 crores approximately and total employment of around 7000 direct jobs. Government of Telangana is committed to promote research, development, innovation and manufacturing in this segment."
The proposed facility is being set up with total of investment of Rs250 crores and will generate total direct employment of around 500 people along with indirect employment for additional 250 people. The facility would comprise of three specialised divisions: Neuro Interventional Medical Devices along with Neuro Training Centre, Cardio Interventional Medical Devices and Drug Coated Critical Care Catheters. This facility is being designed as per USFDA norms.
