GEORGE TOWN: Penang is getting a multi-billion boost with Dexcom Incorporated, a global leader in continuous glucose monitoring system, setting up a plant on a 28-acre site at the Batu Kawan Industrial Zone.
The investment is a welcome shot in the arm as the economy has been ravaged by the Covid-19 pandemic. It also helps to consolidated Penang as a hub for production of electronics and medical equipment.
A Dexcom official said the actual amount of the investment will be unveiled once several investment formalities have been cleared with the relevant authorities. It is the company’s first plant outside the US.
“Dexcom looks beyond the current macro uncertainties,” Chief Minister Chow Kon Yeow said yesterday.
“It has chosen to invest in Penang despite the pandemic. Its new facility will focus on the manufacturing of sensors and applicators for its system. Construction work is expected to begin in the second half of this year.”
Chow said Dexcom will create new jobs over the next 10 years in areas such as production, facilities management as well as research and development.
Penang has built a strong industrial eco-system to suit the needs of medical tech players due to its 50 years of industrial experience, he pointed out.
“We benefit from this because the technology requires expertise and support from electronics engineering, manufacturing and related ancillary services, which are already well-established in Penang,” he added.
Dexcom executive vice-president, who is also its chief financial officer and chief operating officer, Quentin Blackford said it selected the Batu Kawan Industrial Park over many other sites as it is a great fit for the company’s future manufacturing needs.
“This new site is supplemental to our existing manufacturing facilities and will help Dexcom meet the needs of global demand for our glucose monitoring system for years to come,” he said.
Dexcom develops, manufactures, and distributes monitoring systems for diabetes management. It operates internationally and is headquartered in the US.
Its patented systems provide a more accurate way to monitor blood glucose levels, thereby allowing diabetic patients to better regulate their blood glucose.
With capabilities of producing high value-added and technologically advanced products such as cardiac pacemakers, stents, orthopaedic implantable devices, electro-medical, therapeutic and, monitoring devices, Malaysia is well positioned to be the Asia’s manufacturing hub for medical devices.
As of 2019, a total of 402 medical device projects with investments worth RM20.5 billion have been implemented in Malaysia and created more than 76,500 jobs for the country.
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