SINGAPORE - Singapore medical devices manufacturer, Biosensors
International Group Ltd , is spending around S$82.2 million to develop a new
manufacturing center and research and development centre in Singapore.
The company manufactures medical devices used in interventional
cardiology, namely drug-eluting stents (DES), used to treat blocked arteries,
and critical care procedures.
"In addition to the manufacturing of DES and other medical
devices, the new facility will also be used to develop new high-technology,
value-added medical devices, and is expected to be completed within three
years," Biosensors said in a statement on Friday.
The 12,000 square meter land and construction costs of S$6.2 million
and S$76 million respectively, will be funded through internal resources and
bank borrowings, the company said.
The firm's shares are little changed so far this year versus a nearly
17 per cent rise in the FT Straits Times mid-cap index . The shares jumped 27
per cent last year.
Out of seven analysts tracking the stock, six have a buy or strong buy
rating and one has a hold recommendation.
In an interview with Reuters last year, Biosensors chairman Yoh-Chie Lu
said the group aimed to increase its market share in China's DES market.
Reuters
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