Expanding its manufacturing footprint in the Asia Pacific region, Boston Scientific Corporation (NYSE: BSX) marked the commencement of construction work on a regional manufacturing hub during a groundbreaking ceremony in Penang. Located at the Batu Kawan Industrial Park, the completion of the facility is planned for the fourth quarter of 2017.
The groundbreaking ceremony was officiated by Yang Berhormat Dato’ Lee Chee Leong, Deputy Minister of International Trade and Industry (MITI); Yang Amat Berhormat Mr. Lim Guan Eng, Chief Minister of Penang; His Excellency Mr. Joseph Y. Yun, Ambassador of the United States to Malaysia; Dato’ Azman Mahmud, Chief Executive Officer of Malaysian Investment Development Authority (MIDA); Mr. Ed Mackey, Executive Vice President, Operations, Boston Scientific; Mr Brad Sorenson, Senior Vice President, Manufacturing and Supply Chain, Boston Scientific and Mr Dave Mitchell, Vice President and General Manager, Manufacturing and Distribution, Boston Scientific.
“Expanding our manufacturing operations into Penang will support the continued global growth of Boston Scientific and allow us to better serve the needs of physicians and patients in Asia Pacific,” said Ed Mackey. “Malaysia is an ideal geographic location with an infrastructure that is conducive for business, particularly in the growing medical device sector,”
“The Penang facility is a key component in Boston Scientific’s overall presence in the Asia Pacific, Middle East and Africa. We have also invested in entering new emerging markets, establishing seven regional training institutes for physicians and other healthcare professionals, and building the regional and global R&D capabilities, all with the aim of bringing medical solutions for the best patient care and outcomes,” said Supratim Bose, Executive Vice President and President, Asia Pacific, Middle East and Africa, Boston Scientific.
Yang Berhormat Dato’ Lee Chee Leong commented, “The medical device industry presents many opportunities within Malaysia’s industrial landscape. Boston Scientific’s expansion in Malaysia is fitting and timely as this industry is expected to play a vital role in Malaysia’s aspiration to be a high income nation by 2020.”
Presently, Boston Scientific supplies medical technologies to over 15 markets across Asia. The company’s products are used to diagnose or treat a wide range of medical conditions, including heart, digestive, pulmonary, vascular, urological, and chronic pain conditions. Together with its commercial office in Kuala Lumpur, the planned 375,000-square-foot manufacturing facility in Penang is expected to employ about 400 personnel over the next several years. The Asian medical devices market is currently valued at over US$6.5 billion (RM26 billion).
“Boston Scientific’s entry into Malaysia with a facility in Penang is a true testament to the state’s successful track record in providing a conducive and efficient environment for business. There are currently over 55 medical solutions companies with a presence in Penang, and I am proud to see this list continue to grow through investments by cutting-edge high tech companies such as Boston Scientific,” said Yang Amat Berhormat Lim Guan Eng, Chief Minister of Penang.