Will Be First Centre in Singapore for the Design and Development of
Active Implantable Medical Devices
SINGAPORE--(BUSINESS WIRE)--Jul. 17, 2012--
Greatbatch, Inc. (NYSE:GB) today announced that the company will
establish an Active Implantable Medical Device (AIMD) Research and
Development Centre in Singapore – the first of its kind in the country.
The establishment of this centre is a continuation of Greatbatch’s
medical device strategy and the first step of its Asia Pacific strategy
to engage in emerging healthcare markets.
“This announcement is another step in the process we began in 2008 to
move Greatbatch forward and evolve from not only being an innovative
component manufacturer but also being an innovator of complete medical
device systems,” said Thomas J. Hook, President and CEO of Greatbatch.
“Many factors contributed to our decision to establish the first
multinational R&D centre for active implantable medical devices in
Singapore, including the nation’s commitment to developing its
biomedical sciences cluster, as evidenced by its strong investment in
research organisations. The work being conducted at several national
research institutes serves as a perfect complement to Greatbatch and
QiG’s resident expertise in the design and development of active
implantable medical devices.”
In 2008, Greatbatch formed a subsidiary, QiG Group, LLC, to empower the
design and development of new medical devices for its core markets;
Cardiovascular, Neuromodulation and Orthopaedics. The QiG group will
partner with physicians and other key opinion leaders in Asia Pacific to
focus on developing innovative active implantable medical devices. The
Greatbatch Singapore AIMD R&D Centre will leverage “frugal innovation”
strategies to develop cost efficient active implantable medical devices
and position Greatbatch to capitalise on emerging market business
opportunities.
The Greatbatch Singapore AIMD R&D Centre will immediately focus on the
design and development of active implantable medical devices to serve
the Cardiovascular and Neuromodulation markets. Both are multibillion
dollar markets with considerable long-term growth potential.
To serve the Cardiovascular market, the company has identified needs in
Interventional Procedures, Atrial Fibrillation ablation, MRI Conditional
Systems, as well as targeting health conditions related to
Cardiovascular Disease with therapies for Obesity and Obstructive Sleep
Apnea. To serve the Neuromodulation market, the company is currently
developing a Spinal Cord Stimulator called Algostim, which will treat
chronic pain in the trunk and limbs.
“The devices that the Greatbatch Singapore AIMD R&D Centre will design
and develop are to be tailored to the unique requirements that exist in
emerging markets without sacrificing physician and patient benefits,”
said Daniel Kaiser, PhD., Chief Technology Officer of Greatbatch. “In
order to develop such complex systems we’ll focus on world class talent
with the capabilities to bring these solutions through the development
and regulatory stages to serve Asia Pacific and broader worldwide
healthcare markets.”
The Greatbatch Singapore AIMD R&D Centre will be headed by Kulbir
Sandhu, and will come under the direction of Dr. Kaiser. Sandhu has over
15 years of medical device experience in the areas of new product
development, programme management and manufacturing transfer. In his
most recent position as Senior Director of R&D at St. Jude Medical,
Sandhu was responsible for assessing technologies to determine clinical
viability, programme risk, and return on investment by working with key
opinion leaders and advisory councils. “Mr. Sandhu has the experience
and background to lead this effort as we identify clinicians and experts
in the region to partner with QiG on our device initiatives,” commented
Dr. Kaiser.
The Greatbatch Singapore AIMD R&D Centre is a significant development
for Singapore’s biomedical sector – it is the first R&D centre for
active implantable medical devices in Singapore and in Asia.
“We are delighted that Greatbatch has chosen Singapore for its first R&D
Centre outside the US, to develop and commercialise medical devices for
Asia and global markets. Companies are increasingly looking to growth
opportunities in Asia. Singapore is well-positioned as a location for
companies to develop the next generation of medical devices due to our
strong pool of R&D talent, opportunities for clinicians and industry to
collaborate, aggregate and translate regional clinical insights into new
ideas,” said Mr. Yeoh Keat Chuan, Managing Director of the Singapore
Economic Development Board (EDB).
“As Greatbatch focuses on growth in our core business, growth through
targeted acquisitions and growth through new, innovative medical
devices, this exciting initiative will further allow Greatbatch to bring
differentiating technologies to the marketplace while driving greater
return for our shareholders,” Hook concluded.
About Greatbatch, Inc. Greatbatch, Inc. (NYSE: GB) provides
top-quality technologies to industries that depend on reliable,
long-lasting performance through its brands Greatbatch Medical,
Electrochem and QiG Group. Greatbatch Medical develops and manufactures
critical medical device technologies for the cardiac, neurology,
vascular and orthopaedic markets. Electrochem designs and manufactures
battery and wireless sensing technologies for high-end niche
applications in the energy, military, portable medical, and other
markets. The QiG Group empowers the design and development of new
medical devices for our core markets. Additional information about the
Company is available at www.greatbatch.com.
Source: Greatbatch, Inc.
Greatbatch, Inc.
Media:
Chan Yiu Lin, (65) 9-765 5897
yiulin@greenergrass.com.sg
or
Christopher
Knospe, 716-759-5727
cknospe@greatbatch.com
or
Investor
Relations:
Marco Benedetti, 716-759-5856
mbenedetti@greatbatch.com