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* BOI signs agreement with British company to manufacture disposable medical devices in Sri Lanka
Thu, Feb 7, 2019, 07:54 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 07, Colombo: A leading UK manufacturer has gained approval of Sri Lanka's investment promotion agency, Board of Investment (BOI) to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka.

Flexicare (Group) Limited is a UK headquartered manufacturer and supplier of medical devices, with subsidiaries in over 12 countries and 2 manufacturing sites, providing disposable medical consumables to over 110 countries.

Ghassem Poormand, Chairman of Flexicare (Group) Limited signed the Agreement was signed on behalf of the company recently. Also present at the signing ceremony were Hash Poormand, Managing Director and Sanjeeva Jayasinghe, General Manager Flexicare Sri Lanka and the Director General of the BOI, Mrs. Champika Malalgoda.

Poormand said Flexicare is a privately owned British Company which has been in existence for 20 years. Its products include anesthesia and respiratory products such as oxygen masks and nebulizers.

Flexicare products are exported to 110 countries. The group has subsidiaries in the USA, Germany, Japan, the Netherlands, Italy, Australia, India, China, South Korea and Malaysia, according to the Chairman.

Flexicare Lanka was established in 2018 with a view to build a new bespoke operation in the heart of Sri Lanka that will seek to support both the local market which Flexicare has been supplying with its exclusive distribution partner Technomedics International Pvt Ltd for more than 15 years, but also the international healthcare arena that Flexicare is active in.

The project which will be located in Bandaragama is expected to represent an investment in excess of U$10 million over the course of the coming years and will create 600 new jobs in the region, in what is the first medical device manufacturing of its kind in the country with a fully integrated operation.

Sri Lanka was chosen as the outright choice for its 3rd manufacturing site due to the excellent infrastructure and forward investments in the country as well as its 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," Poormand said.

"In Sri Lanka, the manufacture will initially be for items such as oxygen masks, nasal capula, aerosol products and later be expanded to anesthetic products."

"We strongly feel that the project will significantly contribute to the growth of the national economy and help towards the achievement of the government's long term goals relating to "Vision 2025" for the development of the healthcare sector as well as creating jobs and exports," the chairman added.


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