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.