Tuesday, March 26, 2024

Wipro GE Healthcare Announces Investment Of Over INR8000 Crores In Manufacturing Output & Local R&D Over Next 5 Years

·         Announces manufacturing of PET CT, CT & MR Coils ‘In India, for the World'

·         Aimed at building India’s position as the ‘Key innovation and manufacturing hub for MedTech’

Wipro GE Healthcare, a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, today announced an investment of over INR8000 Crores in manufacturing output & local R&D over next 5 years. Poised for exponential growth, MedTech, the Sunrise Sector is thriving with the hospital industry in India, accounting for 80% of the total healthcare market and witnessing strong investor demand locally and globally.[1] This strategic investment bolsters Wipro GE Healthcare’s local manufacturing footprint to address the growing domestic and international market and will build supply chain resiliency for the organization.  As a part of this investment, the Wipro GE Healthcare ‘Made in India’ PET CT Discovery IQ will be exported to 15 countries. Additionally, the ‘Made in India’ Revolution Aspire CT, Revolution ACT and MR breast coils will be manufactured ‘In India for the World’. 

India is among the top 20 global markets for medical devices in the world.[2] Wipro GE Healthcare is among the first MedTech companies to ‘Make in India - for India and the world’ over past three decades, investing upwards of over $4Billion in R&D and manufacturing output in India since inception. Over the decades, the organization has fostered a strong local supplier ecosystem of MedTech component manufacturing – covering capabilities like plastics, EMS, machining, castings, 3D printing - contributing $1M supplier Labor hours. The investment will include creation of additional 400,000 labor hours.

Azim Premji, Chairman, Wipro GE Healthcare, Chairman, Wipro Enterprises and Chairman Azim Premji Foundation, said, “India is riding the resurgent growth in the healthcare industry and rapidly expanding MedTech sector. With ‘Make in India’, we are witnessing an exponential expansion of manufacturing footprint in the country, strengthening  India’s capability as the MedTech hub of the world. Wipro GE Healthcare has been committed to this localization journey for over three decades and this strategic investment is  testament to our vision for this sector.”

Peter J. Arduini, President and CEO, GE HealthCare said, “India is a high potential, high priority market for GE HealthCare globally. In fact, we are among the first MedTech companies to ‘Make in India - for India and the World’. We will continue to invest in expanding India’s domestic capabilities and its global footprint in MedTech manufacturing and R&D. Today’s announcement is aligned with our strategic vision to deliver precision innovation globally and accelerate India’s position as ‘MedTech innovation and manufacturing hub for India and for world markets.”

Chaitanya Sarawate, Managing Director, Wipro GE Healthcare and President & CEO, GE HealthCare South Asia said, “Innovating in India and Making in India - for India and for the World, has always been a priority for us, evident in our trajectory and investments over past three decades. We have fostered a strong innovation track record, a local supplier ecosystem and built a portfolio of world class products in India, for India and the world. As a local partner we are bullish about India’s potential and its journey to be ‘Atmanirbhar’ and a key cog in the resilient global supply chain. As India envisions to be among top five global manufacturing hubs in terms of value and technology for Medical Devices in the coming years, we are committed to the national healthcare agenda.”[3]

Currently, the organization has four manufacturing plants in Bengaluru. All four manufacturing plants are export plants – the latest one established in March 2022 with an investment of a little over INR100 crore under the Indian government’s PLI Scheme.

GE HealthCare is among the first healthcare companies to start an R&D center in India over three decades back. The Healthcare Technology Center India (HTCI) is GE HealthCare’s largest R&D center outside of the USA, situated in John F. Welch Technology Centre (JFWTC), Bengaluru. The organization also has collaborations with leading academic institutions in the country to further research. In January 2024, GE HealthCare signed an MoU with Indian Institute of Science (IISc) to advance MedTech innovation from India – for India and the world.  

About GE HealthCare Technologies Inc.

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with 51,000 colleagues working to create a world where healthcare has no limits.

Follow us on Facebook, LinkedIn, X and Insights for the latest news, or visit our website https://www.gehealthcare.in for more information.

About Wipro GE Healthcare Pvt. Ltd.

Wipro GE Healthcare Private Limited is a Joint Venture (JV) between GE Precision Healthcare LLC, USA, and Wipro Enterprises Limited, India. Established in 1990, it is one of the most successful and longest-running JVs in the region with operations spread across India, Bangladesh, Sri Lanka, Nepal, Maldives, and Bhutan. The company is one of the most premium Medical Technology players in the South Asia region. Wipro GE Healthcare is focused on addressing some of the toughest healthcare challenges - helping lower maternal and infant deaths, enabling early detection of cancer, providing precision-care pathways for heart diseases, and driving better outcomes for trauma patients, among others.

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