The Taiwanese government has recently been touting the country as a perfect environment for medical device companies targeting emerging markets, and Swissray International, maker of imaging devices, would seem to agree. The Switzerland-headquartered company is planning to expand into the country.
As the island's CENS reports, Swissray plans to spend between $20 million and $30 million to set up an R&D facility in northern Taiwan, and the company wants to open a manufacturing operation there in the future. Once it gets set up, Swissray will partner with the local Industrial Technology Research Institute along with AU Optronics Corp and Chimei Innolux, Taiwan's largest thin-film LCD manufacturers, the news service says.
The news is a minor coup for Taiwan's Economic Affairs Ministry, which is working to bolster its local medical device outfits and bring in foreign companies. China has been an in-demand med tech market for years, but Taiwan says its technological infrastructure and respect for intellectual property make it an ideal bed for industry growth.
Last year, the island's medical device market pulled in about $3.42 billion, and it's predicted to increase by about 7% annually, the Central News Agency reports.
- read the CENS story