Since its launch, the medical devices park in Sultanpur has received overwhelming response with more than 50 companies lining up to set up their manufacturing or research and development units
A total of seven medical devices factories were inaugurated by Telengana IT Minister KT Rama Rao at the medical devices park at Sultanpur.
The seven companies are Promea Therapeutics, Huwel Life Sciences, Akriti Oculoplasty, Arka Engineers, SVP Techno Engineers, Elvikon and Rees Medilife. They collectively have proposed a total investment of Rs 256 crores which would lead to employing around 1300 people.
Hyderabad is the life science capital of India. Telangana will consolidate the efforts in the segment to maintain the momentum, he said.
“We are on the path to realise our dream and vision of growing the Telangana Life Sciences industry to over US $100 Billion (by 2030). I believe that the next few years will herald a period of unparalleled economic growth in Telangana,” the minister said in a tweet earlier.
Key features of Medical Devices Park
Telangana State identified medical devices and diagnostics as strategic growth sectors for Hyderabad. The Telangana Government had established the country’s largest medical device park spread over 302 acres near Hyderabad in 2017. Since its launch, the park has received overwhelming response with more than 50 companies lining up to set up their manufacturing or research and development units here.
Hyderabad has a dominant position in life sciences and technology and is also known as the healthcare hub of the country. In addition, Hyderabad has numerous companies with expertise in plastics, precision engineering, electronics and others. All of these are vital for the medical device innovators and manufacturers. The Telangana Government has focused on innovation, scale-up and manufacturing. The medical park is located on the eight-lane Hyderabad Outer Ring Road at Sultanpur. Also, availability of talent pool from academic and research and training centres also supports the medical devices segment.
Since its launch, the Sultanpur medical device park has 50 companies setting up their manufacturing and R&D units with an overall investment commitment of Rs. 1,424 crore and total employment of around 7000 direct