Medical devices firm Boston Scientific today launched its first integrated facility in India to develop and sell minimally invasive technologies fit for India and the greater Asian market and train physicians in using them.
The 1 lakh sq ft facility comprises research and development, training and commercial center, Boston Scientific said in a statement.
The company however did not share the investment figures for the facility.
The research and development (R&D) center will focus on creating market-appropriate products based on unmet clinical needs in emerging markets, and will also serve as a global product engineering center, it added.
Boston Scientific has invested over USD 850 million in 2015 in R&D globally, which represents over 11 per cent of the global revenue in that year, the company said.
The Institute for Advancing Science (IAS), a physician training facility equipped with simulators for hands-on training on innovative technologies, is the newest addition to growing global network of Boston Scientific IAS facilities, it added.
"The launch of this facility underscores our commitment to India, and we are confident that our R&D activities will address many of the current health challenges of the country and the world," Boston Scientific in India Vice President and MD Prabal Chakraborty said.
India is an important market and it holds great potential for the global medical devices industry, he added.
"We plan to tap into the high calibre talent pool and the innovation ecosystem to deliver cutting-edge medical device innovation," Chakraborty said.
Boston Scientific India was incorporated in 2011. The company has a portfolio of over 300 medical devices in the country, which include defibrillators, catheters, stents and pacemakers.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
