MedInTech (MIT)

2024

Receiving 1.2 billion rubles to create the production of "self-destructive" syringes

Medinteh received a loan of more than 1.2 billion rubles from the Industrial Development Fund to resume construction of a plant in the Lotus special economic zone (SEZ) near Astrakhan. It is planned that the company will begin production of third-generation syringes that cannot be reused, as well as other medical devices. This was announced in May 2024 by the Minister of Industry, Trade and Energy of the Astrakhan Region Ilya Volynsky.

The construction of the plant was suspended several years ago due to financial difficulties. Now, with an approved loan, work will resume in 2024.

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Today, the plant is being reformatted, and other medical equipment will be produced there.

According to the Lotus SEZ, more than 100 million rubles have already been invested in the project. It is planned that the plant will produce about 200 million syringes per year, which corresponds to the annual consumption of the Southern Federal District.

According to Volynsky, the Medinteh company, registered in Astrakhan in 2016, is one of the first residents of the Lotus SEZ. Construction of the plant began in 2017 and was supposed to be completed in 2018. The peculiarity of the third generation syringes lies in their disposable ability - after use, the needle is automatically removed inside or the plunger breaks, which reduces the risk of transmission of infections.

General Director of Medinteh Ramazan Fayziev previously stated that more than 700 million rubles will be invested in the project. It was originally planned to use imported materials for the manufacture of syringes, but in the future the company plans to establish production of its own raw materials and injection needles.

In February 2024, it became known that the company received concessional loans from the bank and the Industrial Development Fund, but then their size was not disclosed. Now the loan amount amounted to 1.2 billion rubles, which will allow the completion of the construction of the plant.^[1]

Resumption of construction of a plant for the production of smart syringes for 800 million rubles

On February 19, 2024, it became known that the construction of an enterprise for the production of medical devices of the Medinteh company was underway in the Astrakhan region. In particular, smart syringes will be made at the plant. The cost of the project is estimated at 800 million rubles.

The creation of the enterprise began in 2016, and it was originally planned to put it into operation in 2018. However, shortly before the COVID-19 pandemic, work had to be frozen due to financial difficulties: the available funds were only enough for about 30% of the project. Subsequently, the timing of the plant's launch was repeatedly revised. According to the publication "Astrakhan 24," only in 2024 the company "Medinteh" managed to receive preferential loans from one of the banks and the Industrial Development Fund, which made it possible to resume construction. In accordance with the new plans, production will be launched in 2025. The amount of attracted financing as of February 19, 2024 was not disclosed.

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The plant will produce new generation syringes with a mechanism to protect against reuse. Depending on the embodiment of such articles, the needle is automatically retracted inward or the plunger is broken, whereby the risk of transmission is virtually eliminated.

It is assumed that the plant will be able to produce up to 200 million products per year. In addition to smart syringes, the company will also manufacture catheters and droppers to ensure the safety and convenience of patients. According to estimates, Russia's annual need for third-generation syringes, which cannot be reused, reaches 3 billion units. Therefore, it is expected that Medintech will not have any problems with the sale of its products. Company representatives are confident that this time the plant will be built on time.^[2]

2017: Construction of a third generation syringe plant

In April 2017, MedInTech announced the start of construction of a plant for the serial production of third-generation medical syringes.

We are talking about self-destructive syringes, the use of which reduces the risks of infection with infections to zero: after use, the needle is automatically pulled into the syringe, which excludes repeated or accidental use of the product. By April 2017, third-generation syringes are widely used in Europe and the United States, and they are not produced in Russia.

Project of the company "MedInTech"

The plant for the production of self-destructive syringes will be launched on the territory of the special economic zone (SEZ) "Lotus" in the Astrakhan region. The planned productivity of the enterprise is 200 million products per year. Investments in the project are estimated at 762 million rubles.

This project is extremely important for the development of the Russian health care system, - says the Governor of the Astrakhan Region Alexander Zhilkin. - He will receive a worthy escort from the regional government and local authorities.

The plant is scheduled to launch in 2018. It is planned to create 150 jobs there, most of the production will be automated to a high extent.

At the initial stage, we will be forced to use foreign materials, "admits Nikolai Sochin, co-founder of MedInTeha. - But I think that 85% it will be domestic production. The most painful question is needles. They are not produced in Russia.

According to the Rosmedprom association, the share of syringes of domestic production in the Russian market exceeded 50% in 2016. However, imports began to increase again from the fourth quarter of 2017, and in the first quarter of the year the share of foreign products exceeded 70%, which led to an increase in warehouse stocks of products and, as a result, to a deterioration in the economic situation of Russian manufacturers.^[3]

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