SMT (Sahajanand Medical Technologies) a leading medical devices company, based at Surat, today announced that it will invest 250 Cr in a manufacturing unit in Telangana. Bhargav Kotadia, MD, SMT met K T Rama Rao, Minister for Industry & Commerce, Municipal Administration & Urban Development, ITE&C, Mines, Handlooms & Textiles, NRI Affairs at Camp Office today. Ganesh Sabat, CEO, SMT; Ashish Agrawal, CFO, SMT; Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments and Shakthi Nagappan, Director for Life Sciences and Pharmaceutical were also part of the meeting.
Later in the day K T Rama Rao tweeted about the meeting.
https://bit.ly/2Nhvq1p
According to the tweet, SMT has announced an investment of Rs 250 crore to set up an integrated manufacturing unit of minimally invasive life-saving medical devices at the Medical Device Park, Sultanpur.
SMT will manufacture 1.2 Mn stents and 2 MN balloon catheters in this facility, with an investment of over Rs. 250 crores and will create more than 2000 direct jobs at the Medical devices park in Sultanpur, Sangareddy district.
Founded by Dhirajlal Kotadia in 2001,SMT became an early champion of the ‘Make in India’ initiative by being one of the first companies in Asia to indigenously develop & manufacture coronary stents.
Today, SMT is the largest developer, manufacturer and market leader of minimally invasive coronary stents (drug-eluting & bare metal), renal stents, PTCA balloon catheters and other cardio vascular accessories in India.
Beyond India, SMT also exports its portfolio of life saving devices to UK, Spain, Italy, Netherlands &over 60othercountries.
SMT operates a WHO-GMP certified manufacturing plant in Gujarat and two world-class R&D centers, including one in Ireland. The Company has a strong focus on R&D and has a number of pioneering achievements to its credit including being the first company in the world to receive the CE certification for a drug-eluting stent with biodegradable polymer.
Further, SMT has published several clinical studies in leading cardiac journals and has multiple process/product patents.The company keeps a highly customer-centric approach while distributing its innovative products & technologies through a well-entrenched direct sales network.
