Healthium invests ?150 cr to expand Sri City operations

Healthium Medtech is set to strengthen its role in Andhra Pradesh’s medical devices value chain by investing ?150 crore in Sri City, a move that is expected to generate up to 400 jobs.The Andhra Pradesh Economic Development Board (APEDB) and the firm signed a Memorandum of Understanding (MoU). In accordance with this Memorandum of Understanding, Healthium will construct Healthium Medtech Unit 2 in two stages on five acres in Sri City Industrial Park.The future "Healthium Medtech Unit 2," which will be built in two stages across five acres in the Sri City Industrial Park, would significantly increase the company's footprint in the area.

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Currently producing sutures and meshes, Healthium started operating in Sri City's SEZ in 2012. By enhancing its capabilities across surgical, post-surgical, advanced wound care, and chronic care product lines, the new unit will boost Sri City's increasing standing as a competitive hub for medtech manufacturing.

According to a statement from the company, the project is anticipated to create 300 direct jobs by 2027 in addition to about 100 indirect possibilities in logistics, supply chain, services, and ancillary units.The growth coincides with India's medtech industry's anticipated US$30 billion market size by 2030, which would increase need for highly skilled labor and advanced manufacturing capacity.

"With our increasing footprint and the requirement for a stronger manufacturing base, the decision to establish this new unit in Sri City is driven by the rising need for resilient, high-quality manufacturing in the medtech space,” said Anish Bafna, CEO and Managing Director, Healthium Medtech.