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S3V Vascular to invest Rs. 250 crore for setting up medical devices manufacturing unit in Hyderabad

A Raju, Hyderabad
Saturday, March 5, 2022, 08:00 Hrs  [IST]

The Hyderabad-based S3V Vascular is all set to invest Rs. 250 crore for setting up a medical devices manufacturing unit in Telangana Medical Devices Park at Sultanpur on the outskirts of Hyderabad.

According to Badari Narayan, director of S3V Vascular, they have decided to set up a state-of-the-art integrated medical devices facility wherein high end critical life-saving neuro and cardiac medical devices would be manufactured.

It is learnt that the company is setting up the new unit with a cost of Rs. 250 crore and will manufacture a drug-eluting stent needed for treating patients suffering from various cardio vascular disease. It is also understood that the medical devices manufactured here at this facility would be an alloy based medical device devoid of using nickel and cobalt to avoid allergic reactions in patients.  

“The neuro and cardiac medical devices manufactured at this medical device facility will be first of its kind in the world made of special alloy which is unusual from earlier nickel and cobalt alloy that have allergic ions,” informed Narayan.

The medical device company is also proposing to manufacture metallic bioresorbable vascular scaffolds in its facility which will reduce the re-producer rates.

The proposed facility is being set up with a huge investment and is expected to generate a total direct employment to more than 500 persons and another 300 persons will be getting indirect employment.

Company sources revealed that the new medical device manufacturing facility would comprise of three specialized divisions including neuro interventional medical devices along with neuro training centre and the cardiac interventional medical devices and drug coated critical care catheter manufacturing divisions.

Commenting on the new S3V Technologies investing in the Telangana Medical Devices Park, IT Minister K. Taraka Rama Rao said that with more and more investors coming to Hyderabad, it reflects the friendly environment for the industries in the state and said very soon Hyderabad will emerge as India’s leading medical devices hub.

Adding further, the Industries minister said that ever since the launch of the Medical devices park in the year 2017, it has witnessed phenomenal growth with an overall investment of Rs.1,500 crore and providing jobs to more than 7,000 people in the state.

 

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