Esco invests RMB100 million into new 20,000m² Innovation Center in China
Pictured: Artists impression of the new Esco Jiangsu Innovation Centre
- Breaks ground on its new state-of-the-art manufacturing and innovation complex to accelerate commercialisation of life sciences, medical devices, reproductive medicine and precision medicine technologies
- Strategic to Esco’s global operations, Esco is growing 40% per annum in China; capturing growth opportunities in China as unmet medical needs and an ageing population provide the impetus for aggressive expansion
- With the completion of the facility, Esco will continue to invest into local R&D, collaborations with academic institutions and in-licensing/joint ventures with global startups to commercialise their technologies in China
Esco Group breaks ground on its Jiangsu Innovation Center, a new 20,000m2 manufacturing and innovation complex located in Taicang, Suzhou, Jiangsu, just 50km from central Shanghai.
Scheduled to be completed by end 2019, the Esco Jiangsu Innovation Center will be a platform for acceleration and commercialization of life sciences, medical devices, reproductive medicine and precision medicine technologies to serve the rapidly growing Chinese market and to address unmet needs for Chinese patients. It will serve as a focal node in Esco Group’s global network of manufacturing plants and innovation centers, collaborating closely with the Esco Group mother plant in Bintan, sister plants in US/Europe, and also with the Esco Ventures X incubators in Singapore and Beijing.
“As one of the twin pillars of the world economy, China is a strategic market for Esco Group, with our business growing 40% per annum currently. With many unmet medical needs, a large and aging population, the China healthcare and life sciences market is one of our core focus growth areas.” remarked XQ Lin, Esco Group President & CEO.
Lim Lay Yew, Founder and Chairman of Esco Group, commented, “As a company owned by overseas Chinese, we are proud of the great renewal of the Chinese nation and hope to participate more deeply in the Chinese dream. We believe that the thriving life sciences ecosystem in China has unique resources, capabilities and scale that can be leveraged to make a global impact to human health.”
With the completion of this facility, Esco Group will further invest into local R&D as well as collaborate with academic institutions such as the Henan Province People’s Hospital. Furthermore, the Group will also pursue collaborations with startups such as AT Medical UAB and Carmentix Pte Ltd in order to more rapidly commercialise innovative technologies to address unmet needs.