February 24, 2024

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New Medical Equipment Production Facility Opens in Hong Kong

Image Credits: HKSTP, Press Release

A prominent company in the medical imaging industry launched its new production facility in Hong Kong, situated at the MARS Centre within Tai Po INNOPARK. This marks the first time a significant medical equipment production facility has been established in Hong Kong, and it is now the largest MRI production base in Southeast Asia and the Greater Bay Area. The facility’s primary focus is on research and development, as well as the production of highly valuable neonatal and breast screening superconductor MRI systems.

The new facility occupies an area of 30,000 square feet at the MARS Centre, boasting advanced technologies, seamless logistics support, and a highly integrated manufacturing environment. In 2021, the Hong Kong Science and Technology Parks Corporation (HKSTP) repositioned the three industrial estates located in Tai Po, Yuen Long, and Tseung Kwan O as INNOPARKS, aiming to drive innovation, technology opportunities, and long-term economic development in Hong Kong through Innofacturing.

This new production facility is expected to significantly enhance the productivity of the company’s cutting-edge neonatal and breast screening MRI systems and aligns with Hong Kong’s Innovation & Technology Development Blueprint’s mission for New Industrialisation and high-value manufacturing.

During the opening ceremony of the new production facility, the Secretary for Innovation, Technology and Industry said that Hong Kong possesses distinct life sciences advantages and robust scientific research capabilities. The recent budget release by the Financial Secretary highlights the city’s strength in research and development while fully supporting the establishment of the second Advanced Manufacturing Centre (AMC) operated by HKSTP.

The government is actively promoting the interactive development of upstream, midstream, and downstream sectors to establish a robust foundation for New Industrialisation in Hong Kong. Time Medical’s one-stop shop, which includes R&D, design, production, and sales of high-value medical equipment in Hong Kong, provides significant support to the city’s industrial development.

The company’s Founder and CEO expressed gratitude towards the Innovation, Technology, and Industry Bureau, as well as the HKSTP for their unwavering support. He stated that the opening ceremony marks the company’s significant growth in Hong Kong. The first batch of pediatric MRI systems manufactured in Hong Kong will be used in leading hospitals across the globe. These innovative pediatric products will soon emerge as a premium ‘Hong Kong Brands’ and will be exported to various regions, including Asia, Europe, and the US, he predicted.

The Chairman of HKSTP expressed that the organisation has been actively promoting the “R&D to Innofacturing” concept to cultivate a new generation of high-end manufacturing in Hong Kong. This approach is expected to boost the Hong Kong brand and create more employment opportunities for young people.

He added that he anticipates more innovative I&T companies will make significant contributions in Hong Kong, the Greater Bay Area, and beyond, showcasing their R&D achievements and unleashing numerous possibilities for Hong Kong Innofacturing.

The new production facility in Hong Kong will be used to manufacture the dedicated superconductor MRI system, Neona, designed to serve neonates optimally. The neonatal magnetic resonance imaging (MRI) system is a patented product of the company, using original revolutionary technology. It has officially obtained approval from the US Food and Drug Administration (FDA) and has also been honoured with the Geneva International Invention Award. Neona is lightweight, compact in size, safe, and reliable, making it suitable for adoption by around 8,000 different neonatal intensive care units (NICUs) worldwide. It offers dedicated and radiation-free diagnoses for infants.

Developed by the company’s engineering team based at Hong Kong Science Park, Neona is the first high-end medical device “Innovated, Designed, and Made in Hong Kong.” It is slated to be exported to the US, Europe, and mainland China, bolstering the Hong Kong brand in the global medical market.

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