SMT to set up ₹250-cr stent unit

SMT (Sahajanand Medical Technologies), a coronary stent manufacturing company, will invest ₹250 crore to set up an integrated manufacturing unit of minimally invasive life-saving medical devices at the Medical Device Park, Sultanpur.

The facility, which will have 2,200 employees, can manufacture over 1.25 million stents a year.

SMT MD Bhargav Kotadia, CEO Ganesh Sabat, and Chief Financial Officer Ashish Agrawal, met Telangana IT and Industries Minister KT Rama Rao here on Tuesday to discuss the project.

The Surat-based firm is the second biggest stent manufacturer in the country, according to a statement from the Ministry.

“Hyderabad is evolving into a hub for Medical Devices industries. We will play our bit,” a statement quoting Bhargav Kotadia said.

The portfolio of SMT, which has a footprint in 65 countries, includes drug-eluting stents, bare-metal stents, balloon catheters and inflation devices.