Owing to the growing need for ventilators throughout the world to manage the COVID-19, K-One MediTech Sdn Bhd (KOM), the wholly-owned subsidiary of K-One Technology Bhd (KTB), will design and manufacture ventilators in Malaysia.
KOM has successfully secured the license to produce ventilators from the US-based National Aeronautics and Space Administration’s (NASA) Jet Propulsion Laboratory (NASA-JPL). It is the only Malaysian company licensed to manufacture NASA-JPL’s ventilators. The company’s R&D of improved ventilator models enables a wider range of applications for acute respiratory diseases by incorporating smart components such as the Internet of Things (IoT), which predominantly contributes to the medical device industry’s technical advances. In 2020, KTB was granted the license by NASA-JPL to manufacture and distribute the Ventilator Intervention Technology Accessible Locally (VITAL) ventilators worldwide.
In addition, the Malaysian Investment Development Authority (MIDA), a federal government investment promotion agency, has awarded KOM a matching grant of up to MYR 12.26 million (USD 2.95 million) for the development of ventilators. In return, KTB intends to design and produce ventilators under its own brand in the future. It is also planning to utilize the funding to obtain international certifications, such as FDA and European CE approvals to demonstrate compliance with American and European standards, which are considered as gold standard certifications.
MIDA Chief Executive Officer Arham Abdul Rahman stated that the domestic manufacturers in the medical device supply chain are being recognized globally with the growing presence of multinational companies (MNC) in Malaysia. He noted that KTB’s achievement represents a huge leap of local technological capability towards the production of more complex and high-technology medical devices to meet global demands.
Malaysia’s medical devices business has grown significantly in recent years, demonstrating the government’s ongoing commitment to attracting high-tech investment. Through 51 projects approved by MIDA, the sector is expected to invest MYR 6.1 billion (USD 1.46 billion) in 2020. The country currently has over 200 firms providing a wide range of medical, surgical, dental, optical, and general health items and equipment. This helped to establish Malaysia’s image as an excellent investment location, notably as an outsourcing and medical device manufacturing hub in the ASEAN region.
(Sources: The Edge Markets; New Straits Times; The Star Online)