Healthium Medtech signs MoU with Andhra Pradesh Economic Development Board to expand manufacturing operations

New Delhi: Healthium Medtech, a global medtech company, has announced a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB).

Under this MoU, Healthium will set up Healthium Medtech Unit 2 across 5 acres in Sri City Industrial Park, Sri City with a planned investment of INR 150 crore, to be made in two phases.

The new unit marks an expansion of Healthium Medtech’s existing presence in Sri City, where the company commenced operations in 2012 at the SEZ (Special Economic Zone) facility. The current unit manufactures sutures and meshes and the addition of Unit 2 consolidates the company’s foothold in a region that has matured into a competitive hub for medtech manufacturing.

The proposed facility is expected to create 300 direct jobs within the factory premises by 2027, covering both payroll and contract roles. In addition, around 100 indirect opportunities are likely to be generated through supply chain activities, logistics, services and ancillary units. This development coincides with India’s medtech market trajectory toward US $30 billion by 2030, highlighting the growing demand for advanced manufacturing capacity and a skilled workforce to sustain sectoral growth. 

By creating new jobs and adding to its production footprint, the project is positioned to strengthen local workforce participation and open up long term career pathways in the State. The new unit will expand Healthium Medtech’s production capabilities across the surgical, post-surgical and chronic care segments. 

Commenting on the collaboration, Anish Bafna, CEO and Managing Director, Healthium Medtech, said: “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. This expansion is aligned with Healthium’s vision to deliver accessible, high-quality and ‘Made in India’ medical devices to patients across the world. The industrial readiness, connectivity and skilled labour pool in the region gives us a strong foundation to scale production and allowing better integration with suppliers and ancillary services.” 

Sharing his perspective on the MoU, Sudeep Dhariwal, Group CFO, Healthium Medtech, said: “This expansion reflects our disciplined approach to long term capital allocation and our commitment to building scale where it creates the most value. Strengthening our footprint in Sri City allows us to optimise cost structures, improve operational efficiency and plan capacity in a way that aligns with future market needs. As the Indian medtech sector grows, strategic investments such as this, in high quality infrastructure and personnel, become essential for sustaining competitiveness and ensuring that we can deliver reliably to our partners.”

CM Saikanth Varma, IAS, CEO, APEDB, added, “This project reinforces Sri City’s position as a preferred destination for advanced medical device manufacturing. It contributes to building a deeper industrial ecosystem, encouraging supply chains and ancillary units essential for long-term competitiveness. The collaboration aligns with our vision of a future-ready manufacturing corridor that delivers stable employment and technology depth.”

Dr. Ravindra Sannareddy, Founder Managing Director of Sri City, congratulated the Healthium team and said, “Healthium’s expansion of its existing unit here is a resounding affirmation of the existing ecosystem where formulations and diverse manufacturing sectors converge, scale and compete globally. It reflects the strength of our vision: building a future‑ready industrial hub of speed, efficiency, and innovation.”

Healthium Medtech’s decision to expand is a significant step in strengthening Andhra Pradesh’s medical devices value chain. By bringing new investment, specialised skills and supporting industries to the region, the partnership is poised to deliver sustained economic impact and advance the State’s industrial development agenda.