Boston Scientific ($BSX) launched an R&D, training and commercial hub in India, planting a foothold to sell minimally invasive technologies in the country as well as in greater Asia.
The facility joins Boston Sci’s other Institute for Advancing Science locations, which include sites in Japan, France and South Africa. The 100,000-square-foot space will house a physician-training facility for hands-on experience as well as an R&D center, which will develop products to address unmet medical needs in emerging markets, Press Trust of India reported.
“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,” said Prabal Chakraborty, vice president and managing director for Boston Scientific in India, as quoted by PTI.
India represents an opportunity for growth: increasing economic development and healthcare access drives up demand for medical devices. And by establishing a presence there, Boston Scientific will tap a new and growing market for its devices, including those for cardiovascular conditions and urologic and pelvic health.
In fiscal 2015, U.S. sales made up just over half of the devicemaker’s revenues. Boston Scientific made a number of moves ex-U.S., including the launch of metal stents in Asia and the investment in Peripheral Interventions in emerging markets. It also teamed up in April with Chinese surgical device maker Frankenman Medical Equipment to develop endoscopes for the Chinese market. Frankenman will also help commercialize some Boston Sci products in China.
- read the PTI story
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