Panacea Medical Technologies Explores Partnership with YEIDA Medical Devices Park

YEIDA: Shailendra Kumar Bhatia, IAS, Officer on Special Duty (OSD/Nodal Officer) for the Yamuna Expressway Industrial Development Authority (YEIDA) and the Medical Devices Park, visited the manufacturing facility of Panacea Medical Technologies Private Limited, a leading Indian company in imaging and cancer care devices. He was accompanied by Praveen Mittal, Executive Director of the Export Promotion Council for Medical Devices, along with an official from EY. Panacea, a beneficiary of the Government of India’s Production Linked Incentive (PLI) Scheme under the Department of Pharmaceuticals, showcased its fully self-reliant manufacturing capabilities at its 3.5-acre campus, where all components are produced in-house, reflecting its commitment to the ‘Make in India’ mission.

The company, which supplies advanced medical devices to 19 countries and employs more than 450 skilled professionals, expressed strong interest in partnering with YEIDA and expanding its manufacturing operations at the Medical Devices Park to enhance global exports of cancer care equipment. The visit highlighted the significant potential of the 350-acre Medical Devices Park, strategically located next to the upcoming Noida International Airport (Jewar Airport).

The park has allotted land to 101 companies, representing investments worth approximately Rs.1300 crore in the medical devices sector. Discussions during the visit focused on the development of Common Scientific Facilities Centres (CSFs) to support the evolving needs of manufacturers, with an agreement that companies like Panacea will be consulted in selecting equipment to ensure future investments directly benefit industry stakeholders. The visit concluded on a positive note, with Panacea’s leadership expected to visit the Medical Devices Park in the coming months to further explore collaboration opportunities. Panacea Medical Technologies is recognised for manufacturing advanced imaging and cancer care devices for both domestic and international markets, while the YEIDA Medical Devices Park aims to build a premier ecosystem for innovation, production and export of medical devices, aligned with India’s goals of self-reliance and global competitiveness.