Masimo Malaysia invests RM100mil to set up production facility in Johor
05 Mar 2024
Masimo Medical Technologies Malaysia Sdn Bhd (Masimo Malaysia), a mission-based medical device and technology company, has invested RM100 million to set up a new production facility in Pasir Gudang near here.
Plant manager Jayakumar Krishnan said the plant has a maximum capacity of 100 million devices per year for the domestic and export markets.
“Our cutting-edge facility represents a significant investment in the future of healthcare, and we are excited to leverage Malaysia’s strategic location and robust infrastructure to drive innovation and growth in the region,” he told reporters after the grand opening ceremony of the plant today.
He said the opening of the new plant reaffirmed the company’s commitment to advancing medical technology and patient care in Malaysia.
“This factory is a symbol of our dedication to excellence, innovation, and growth.
“Equipped with cutting-edge technology, it positioned us to meet the challenges of the future while ensuring the highest quality in our products,” he said.
Meanwhile, Malaysian Investment Development Authority (MIDA) executive director of manufacturing development (resource) Umarani Muniandy said the medical technology (MedTech) industry in Malaysia has seen considerable growth characterised by a vibrant culture of innovation.
“Currently, Malaysia proudly hosts about 30 multinational MedTech companies, which engage in a wide spectrum of activities ranging from manufacturing to research and development,” she said.
She said last year, the medical devices industry witnessed approved investments totalling RM2.17 billion, consisting of 26 projects.
“Of this amount, foreign investments made up 54 per cent, with the balance of 46 per cent coming from domestic sources.
“This bears testament to our robust manufacturing capabilities, thriving research base and innovation ecosystem, which together serve as a strong value proposition for MedTech companies to grow their operations here,” she said.
She said the Malaysian government is steadfast in its commitment to bolstering the MedTech industry.
“In our ongoing efforts, we have streamlined regulations, creating a more welcoming environment for international investors,” she said.
She said this strategic move is designed to expand the Malaysian market, fostering a vibrant ecosystem for medical advancements.
“Central to our national strategy is the prioritisation of the medical devices industry within Mission 1 of the New Industrial Master Plan 2030.
“Our vision is clear: to elevate Malaysia as a globally recognised, innovation-driven manufacturing powerhouse,” she said.
She said the plan emphasised the development of the medical devices and pharmaceutical industries, capitalising on innovative technologies and harnessing the potential of our high-skilled talent pool.
She added that this approach is aimed at propelling our economy towards greater complexity and resilience.
Source: Bernama
