Seven firms invest ₹265 crore at Medical Devices Park

Telangana Industries and IT Minister KT Rama Rao has opened seven factories at the Medical Devices Park at Sultanpur near here on Wednesday.

The factories, set up by Park-Promea Therapeutics, Huwel Life Sciences, Akriti Oculoplasty, Arka Engineers, SVP Techno Engineers, Elvikon and Rees Medilife, entail an aggregate investment of ₹265 crore and provide jobs to 1,300 people.

Promea Therapeutics, a leading player in IV fluids and bags player with a production capacity of five million bottles and bags a month, will launch a division to develop point of care devices and analysers used in diagnostic labs, the minister said.

Addressing a gathering after inaugurating the units, he said Huwel Lifesciences was engaged in manufacturing of molecular diagnostic kits with the capacity to produce three million tests a month. “The company will also manufacture room temperature stable reagents, which enable to transport and store RT-PCR kits at room temperature,” he said.

Arka will manufacture dental implants, Elvikon will be manufacturing 3D-printed implants and health parameter motoring technologies and sensors.

“While Akriti will be manufacturing a range of high-end ocular implants and a range of ophthalmic devices, Rees Medilife will produce various sterilised wound dressing, surgical kits, among others,” he said.

50 units established

“We are on the path to realise our dream and vision of growing the life sciences industry to over $100 billion by 2030,” he said.

Around 50 companies have set up their manufacturing and research and development units at the four-year-old park, with an aggregate investment commitment of ₹1,424 crore, providing jobs to 7,000 people.