Nasdaq-listed Intuitive To Invest Nearly US$500 Mln In Penang Over Five Years
GEORGE TOWN, Aug 14 (Bernama) -- US robotic-assisted surgery pioneer and Nasdaq-listed Intuitive Surgical Inc expects its investment in Penang to reach nearly US$500 million (US$1=RM4.08) over the first five years of operations as it establishes a major manufacturing presence in the state.
Intuitive executive vice-president and chief manufacturing and supply chain officer Mark Brosius said the five-year investment would include expenditure on manufacturing equipment, employee training and other operational requirements.
“The five-year plans will vary depending on the market, so the figure is not exact. But over the first five years of operations, if you count all the employee training overheads, I believe it should approach half a billion US dollars,” he told a press conference after the announcement of a lease agreement with Penang Development Corporation here, today.
Brosius said the 29,357.36-square metre facility at Bandar Cassia Technology Park represents only the beginning of Intuitive’s long-term plans in Penang. The facility expected to employ at least 1,200 workers and further expand its workforce as operations grow.
He said Intuitive’s presence would also generate wider economic benefits through its supply chain, noting that for every dollar spent within its factory, the company typically spends about US$5 on raw materials.
Furthermore, he said the highly automated facility would require a broad range of technical talent, including mechanical, electrical, controls, quality and manufacturing engineers, as well as technicians and quality specialists.
Brosius said Penang was selected due to its strong talent pool, established medical device ecosystem, availability of qualified suppliers that meet international standards, efficient infrastructure and investment-friendly business environment.
“This is, for us, a long-term commitment. We saw that there was a large hub of medical device technology here and a wonderful business climate, very evolved and efficient infrastructure,” he said.
The Penang plant will be Intuitive’s second manufacturing facility in Asia after Shanghai, China, and its first manufacturing facility in Southeast Asia.
It will manufacture surgical instruments and electromechanical devices used with Intuitive’s da Vinci surgical system to support growing demand across the Asia-Pacific region.
Penang Chief Minister Chow Kon Yeow said the investment reflected global industry confidence in Penang’s mature industrial ecosystem, skilled workforce and manufacturing capabilities, while further strengthening the state’s growing medical technology (MedTech) ecosystem.
He said the investment would reinforce Penang’s position as a preferred destination for advanced medical technology manufacturing and support its ambition to become Southeast Asia’s leading MedTech hub.
-- BERNAMA