German medtech firm Biotronik opened an expanded production plant in Kaki Bukit yesterday.
The firm, a leader in cardio- and endovascular medical technology, produces implantable pacemakers, defibrillators and stents.
It employs 60 people here, 90 per cent Singaporean, and plans to recruit a further 200 engineers and research and development professionals.
"Singapore's skilled workforce, excellent infrastructure and favourable business environment made it a natural choice for Biotronik as we seek to expand our global footprint," said Mr Erik Trip, Biotronik's managing director for Asia-Pacific manufacturing.
"This small nation of 5.5 million people is the fourth-largest exporter of high-tech goods in the world. That success is a reflection of Singapore's highly skilled and professional workforce, its world-class research institutions and education, infrastructure and overall business climate. We will be manufacturing components for Biotronik's latest and most innovative products for distribution around the world."
Biotronik also has manufacturing facilities in Germany, the United States and Switzerland.
"Asia-Pacific is forecast to be the second-largest market for medical technology by 2020, outgrowing the European Union," said Mr Yeoh Keat Chuan, managing director of the Economic Development Board (EDB).
"Today, Singapore's medical technology sector contributes close to 1 per cent of GDP (gross domestic product), and hires over 15,000 employees across manufacturing, research and development, and commercial functions. EDB expects that over 3,000 additional jobs will be created over the next few years from new investments in the medtech sector."