ECONOMYNEXT – Flexicare (Group) Limited, a United Kingdom-headquarted manufacturer and supplier of medical devices, will set up a disposable medical devices plant in Sri Lanka, the investment promotion agency said.
The plant, which will be located in Bandaragama, is the first medical device manufacturing of its kind in the country with a fully integrated operation, the Board of Investment said in a statement.
Flexicare is expected invest 10 million US dollars in the plant over several years and employ 600 people.
The BOI said Sri Lanka was chosen for Flexicare’s third manufacturing site due to its infrastructure and access to a world class export port that will serve the global markets that Flexicare is active in.
“Manufacture has been done in China since 2003 due to the expansion and growth of the business. We decided to manufacture in Sri Lanka due to market access to South Asia and South East Asia,” Ghassem Poormand, chairman of Flexicare, said.
In Sri Lanka, the manufacture will initially be for items such as oxygen masks, nasal cannula to help patients breathe, and aerosol products. It later will be expanded to anaesthetic products.
Flexicare has subsidiaries in over 12 countries and two manufacturing sites, providing disposable medical consumables to over 110 countries.
(Colombo/February 08/2019 – SB)