HYDERABAD: In more good news for the Medical Devices Park in Telangana, S3V Vascular Technologies have decided to set up their state-of-the-art integrated manufacturing facility where high-end critical lifesaving neuro and cardiac medical devices would be produced.
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 also proposes to manufacture metallic Bioresorbable Vascular Scaffolds in its facility which will reduce the re-procedure rates.
The proposed facility is being set up with a total investment of Rs 250 crore and will generate total direct employment of around 500 and indirect employment for an additional 250 people. The facility would comprise three specialised divisions -- neuro interventional medical devices along with neuro training centre, cardiac interventional medical devices and drug coated critical care catheters.
Representatives of S3V Vascular Technologies met IT and Industries Minister KT Rama Rao and made this announcement. Rama Rao welcomed the announcement by saying: “I am delighted that Hyderabad is emerging as the Medical Devices hub of India and we welcome S3V Vascular Technologies to our vibrant ecosystem.”
He said that the Medical Devices Park in Telangana witnessed phenomenal growth since its launch in 2017 with investment commitment of approximately Rs 1,500 crore and around 7,000 direct jobs. This facility is being designed as per USFDA norms and will be constructed on five acres of land in Medical Devices Park with a built-up area of 1 lakh sq ft including 50,000 sq ft of class 10K clean room.Badari Narayan, Promoter and Director S3V Vascular Technologies said that the mission of the company has been to bring affordable, life-saving, differentiated technologies in minimally invasive healthcare.
“We plan to invest Rs 250 crore to bring advanced technologies that not only makes newer treatment options affordable to the common man but also reduce the healthcare burden,” he said.The primary objective of this project is the development of affordable neuro devices which can make difference between recovery and paralysis. The company also aims to advocate that technology for neuro devices be made more affordable by bringing these neuro procedures under various government schemes. This will help the common man reap the benefits of the same.