Shalby Global Technologies Pte. Ltd receives regulatory approval for implants, medical devices

Shalby Ltd's Step-down subsidiary Shalby Global Technologies Pte. Ltd, Singapore ("SGT") has received a regulatory approval to market and sell Knee Implants, Hip Systems, Knee and Hip Instruments, etc. by Ministry of Health, Indonesia. Now, SGT can import the said implants and medical devices from USA and sell in Indonesia.

This development is fully in line with our stated strategy to grow our Orthopaedic implant business and establish our footprint in the Medical device market internationally. This is a big milestone achieved by the Shalby group in its journey to serve many more international patients. The synergies between the businesses are compelling and will bring in immediate benefits ofsourcing US FDA approved quality implantsinto Indonesia through our distribution channels.

Shalby Ltd has performed more than 1,44,000 joint replacement surgeries so far and continues to be the leader in India and globally in terms of the volume ofsurgeries performed annually.

Shares of Shalby Limited was last trading in BSE at Rs. 136.05 as compared to the previous close of Rs. 136.20. The total number of shares traded during the day was 4153 in over 362 trades.

The stock hit an intraday high of Rs. 138.55 and intraday low of 135.60. The net turnover during the day was Rs. 566004.00.

Source : Equity Bulls

Keywords

Shalby INE597J01018 ShalbyGlobalTechnologies RegulatoryApproval KneeImplants MedicalDevices Indonesia