MUMBAI: Healthium Medtech has signed a Memorandum of Understanding with the Andhra Pradesh Economic Development Board to establish a second manufacturing unit in Sri City Industrial Park. The company plans to invest INR 150 crore in the project, which will be executed in two phases.
The new facility will be built on five acres and will expand the company’s existing operations in Sri City, where it began manufacturing in 2012 at a Special Economic Zone facility that currently produces sutures and meshes. According to the announcement, the addition of Unit 2 will increase production capacity across surgical, post-surgical and chronic care products.
The project is expected to generate 300 direct jobs by 2027, including payroll and contract roles, and an estimated 100 indirect opportunities through supply chain, logistics, services and ancillary activities. Company representatives said the expansion is aligned with increasing demand for advanced manufacturing and skilled labour in India’s medtech sector.
Healthium Medtech CEO and Managing Director Anish Bafna said the decision to expand was influenced by the need for a strengthened manufacturing base and the region’s infrastructure and workforce. Group CFO Sudeep Dhariwal noted that the investment supports long-term capital planning and operational efficiency.
APEDB CEO CM Saikanth Varma said the project reinforces Sri City’s position as a destination for medical device manufacturing and contributes to the development of a broader industrial ecosystem. Sri City Founder Managing Director Dr. Ravindra Sannareddy said the expansion reflects the capabilities of the region’s manufacturing environment.
The company stated that the project is expected to contribute to Andhra Pradesh’s medical devices value chain by bringing additional investment, skills and supporting industries to the area.
