Premium International invests Rs 25 m on research laboratory
Prof Ananda Jayawardena and Nigel Forbes after signing the MoU
Premium International will invest Rs 25 million to set up the first
ever research laboratory for bio medical technologies in Sri Lanka
saving a huge amount of foreign exchange to the country. An agreement
was signed by Premium International COO Nigel Forbes and Vice Chancellor
Moratuwa University Prof Ananada Jayawardena at Taj Samudra Hotel on
Forbes said the collaborations and investment into this research
laboratory from product development to commercialization is “a research
bench -to-bedside translation,” and the future investment will be
allocated based on research progress. He said the company will develop
instrumentation and technologies that can be commercialized to the
market providing a large number of job opportunities as well.
Speaking at the signing ceremony Vice Chancellor Moratuwa University
Prof Ananada Jayawardena said there was no assurance for the medical
doctors that their innovative product ideas can be taken right up to the
commercial level. But with this lab, that assurance can be given.
He said another important objective of the lab is to develop higher
quality import substitutes for fast moving medical electronics related
The list of initial set of products includes ECG monitors, pulse
oxymeters, mlti-parameter patient monitors, continuous positive airway
pressure (CPAP) devices and photo-therapy units. These are all fast
moving items which are required in every hospital.
Initial focus is on medical products which involve significant amount
of electronics and it is expected to provide a big boost to local
electronic manufacturing sector by manufacturing the products locally.
At present there is not a single electronic product in local market.