Saturday, June 15, 2024

NZ medical device company to set up in Australia

VICTORIA, AUSTRALIA

The Victorian Government is supporting a New Zealand medical device remanufacturer to set up in the state.

Victorian Minister for Economic Growth, Tim Pallas, today announced Medsalv was finalising site selection for the manufacturing and R&D facility, which will introduce new sustainable remanufacturing capabilities to the Australian healthcare ecosystem. 

The company’s product recycling portfolio includes patient transfer mattresses, deep vein thrombosis prevention sleeves, blood pressure cuffs and tourniquets.

The Minister said Medsalv addresses the growing demand for eco-friendly healthcare solutions to reduce reliance on overseas products, resulting in a more robust supply chain and positive environmental outcomes.

“Attracting Medsalv to set up operations in Victoria is a win for our health system, jobs and sustainability,” he said.

“This new facility will contribute to a more resilient supply chain, bolster our advanced manufacturing capabilities and secure more opportunities for workers now and in the future.”

Medsalv founder and CEO, Oliver Hunt (pictured) said the new Victorian headquarters will enable Medsalv to collect single-use medical devices from hospitals in Australia and remanufacture them for safe use in a process that involves cleaning, testing, inspecting, packaging and relabelling of products to prevent them from going into landfill.

“Medsalv is here to make doing good easy for busy people in hospitals, and we’re thrilled to do this locally for Australia, starting with this key facility in Victoria,” said Mr Hunt.

Around 50 jobs will be created over five years, including opportunities for disadvantaged groups, the Victorian Government said in a statement.

“By securing Medsalv’s advanced manufacturing presence in Victoria, the state is poised to reap the benefits of exports to potential markets in Fiji, Singapore, Brazil, the UK and other parts of Europe,” it said.

“The facility will also enable collaboration with research institutions and universities in Victoria, harnessing our strong R&D ecosystem and boosting our standing as a leader in medtech manufacturing and innovation.”

Victoria is the leading Australian investment destination for advanced manufacturing projects, attracting $588 million in foreign direct investment last financial year that created more than 2,500 new jobs.

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