BWI: Vascular Concepts to Set Up India’s First R&D and Manufacturing Facility for Endovascular Medical Devices

Press release from Business Wire India
Source: Vascular Concepts
Monday, December 13, 2010 04:14 PM IST (10:44 AM GMT)
Editors: General: Consumer interest; Business: Electronic appliances & components, Healthcare, biotechnology & pharmaceutical; Healthcare
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Vascular Concepts to Set Up India's First R&D and Manufacturing Facility for Endovascular Medical Devices
Awarded Alexandria-Frost & Sullivan 'Indian Medical Devices Company of the year' 2010

Bangalore, Karnataka, India, Monday, December 13, 2010 -- (Business Wire India) -- The Rs 150 crore Bangalore based Vascular Concepts today outlined its plan to reinforce and build on its global leadership in cardiovascular technology. Vascular Concepts announced investments of over Rs fifteen crores to set up India's first facility for R&D, design and manufacture of endovascular medical devices such as vascular stents, drug eluting vascular stents and vascular stent grafts that aid the practice of less invasive therapy and address peripheral arterial diseases. The new 15,000 sq. ft facility located 60 kms from Bangalore at Doddaballapur is a state of the art unit with a quality system certified of the highest international standards.

Vascular Concepts that won the prestigious Alexandria-Frost & Sullivan award for excellence in Indian Healthcare under the 'Indian medical devices company of 2010' category earlier this year, is the only Indian company with IP and an extensive patent portfolio of 32 technology patents from US, 12 of them for its stents alone and has a 25% market share in the estimated Rs 500 crore domestic Indian market for endovascular medical devices. With the launch of the new unit, Vascular Concepts will expand its current R&D operations based out of Bangalore to manufacturing the devices, for both domestic and export markets. The company's manufacturing collaboration with Eucatech AG of Germany where all its devices are manufactured until now will continue to remain, in addition to the new domestic unit.

Making the announcement, Swaminathan Jayaraman, CEO, Vascular Concepts said, 'We have established a strong and innovative portfolio of products with our strong R&D focus over the last few years, that provides us a firm foothold for future growth. Our focus over the next three years is to expand our market size across regions and the unit will help us add capacity and provide us the scale to expand faster".

"Growing rate of high risk factors such as average hypertension and cholesterol levels, excessive smoking, hectic urban lifestyles and presence of genetic and co-morbid influences are responsible for the rising incidence in heart diseases globally and in India. Treatment technologies and methods have vastly improved in the last few years and this clubbed with increase in screening initiatives will help us address the rise in cardio vascular diseases more effectively. The design requirement of cardiovascular technology is becoming increasingly complex with the success of minimally invasive procedure and our R&D focus has ensured we have a leading edge in this area, which we now look to capitalize", Swaminathan added.

About Vascular Concepts

Vascular Concepts is a global leader and the only Indian company with an IP and patent portfolio exceeding 35 in the cardio-vascular technology space. Vascular Concepts designs, develops, manufactures and markets endovascular devices that aid less invasive therapy. It offers its products for the treatment of arterial diseases, which include coronary artery and peripheral vascular diseases. Founded in 1998 by Swaminathan Jayaraman, a biomedical engineer, Vascular Concepts is winner of Alexandria-Frost & Sullivan's 'Best Medical Devices company of the year' 2010. Its corporate headquarters and R&D center is based in Bangalore, India.


CONTACT DETAILS
Rajani, PRHUB Integrated Marketing Communication Pvt. Ltd, +91 9731453545, rajani@prhub.com,media@prhub.com

KEYWORDS
CONSUMER, ELECTRONICS, HEALTHCARE, HEALTHCARE

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