An exclusive Medical Devices Manufacturing Park is coming up at Sultanpur in Telangana. The state government of Telangana has already allocated 250 acres of land to set up the project. And the state government has just signed a Memorandum of Understanding (MoU) with 21 medical equipment manufacturing and allied services companies and is expecting an investment of more than Rs. 500 crore in the next 5 years.
Soon after formation of Telangana, the state government of Telangana had decided to ensure that the existing industrial sector is intact and at the same time wanted to take this segment to the next level by opening new avenues wherein more advanced industrial facilities can be provided to the new entrepreneurs and investors.
Particularly, as Hyderabad is a hub for more than nearly around 5000 small and big hospitals, the demand for medical devices and various equipments need by doctors and patients is increasing many folds. “Keeping this in view we have decided to set up a new medical devices park on a plot of 250 acres of land. We have already signed MoU with 21 companies and 3 companies have already started their operations from the Medical devices park,” Narasimha Reddy, managing director of Telangana State Industrial Infrastructure Development Corporation (TSIIDC)
So far, as many as 14 companies out of 21 have already been allocated 51.7 acres of land and the state government is expecting that these companies will invest nearly Rs. 425 crore in the next 5 years in the Medical Devices Park and generate an employment to nearly 3900 persons in Telangana.
Major among the investors in the Medical Devices Park includes Cyient Limited and Sandor Medicaid’s Private Limited companies which are planning to invest Rs. 100 crore each. The company has already been allocated 10 acres of land in the Park by the government. “The pro-active industrial policy of Telangana state has attracted us to invest in the state. We are into Medical Technologies and Healthcare and have invested about Rs. 100 crore in the said area,” informed Balaji Rajagopalan, vice president of Cyient Limited.
This apart other major investors include Transcath Medical Devices, which is investing Rs. 27.9 crore and is expected to manufacture catheter category of products. Another investor Healthware Private limited is investing Rs. 16.2 crore and the company is in the manufacturer of medical equipment like urolgoy, GI, respiratory care, advanced surgery, gynaecology and ENT related medical equipments.
Another Rs. 12.5 crore of investment is in the planning by Man Machine Electronics, which is in the business of manufacturing Ultrasound Scanners. The state government has already allocated one acre of land to this company in the Medical devices park.