R600m Health Tech Park to drive SA’s medical innovation
Economic Opportunities Minister Alan Winde and Health Minister Nomafrench Mbombo addressed the Public Private Health Forum at Lentegeur Hospital.
Minister Winde delivered the keynote address on the future of medical innovation in South Africa. The majority of the country’s medical device manufacturers are based in the
Key points include:
Government will invest up to R600 million investment into the development of the Cape Health Technology Park
The facility is set to create 5000 jobs and generate R4 billion for the local economy
Kindly find an excerpt of Minister Winde’s address below:
South Africa’s world-class medical innovations have garnered international acclaim.
The Western Cape is the site of the ground-breaking medical procedures such as the world’s first successful heart and penis transplants. In the technology space a pair of medical doctors have scooped international awards for their Mobile Triage App, which was piloted at the Khayelitsha District Hospital.
There is also massive potential in the medical tourism industry with a specific focus on Africa.
However, while South Africa’s medical equipment export industry is worth R1 billion, our imports are valued at R11 billion. These figures, contained in a Deliotte study commissioned by the Department of Trade and Industry, show that our trade deficit is increasing sharply and currently stands at over R9 billion, of the products investigated in the study.
It is our goal to harness our strengths to ensure that the production and use of local content is prioritised.
The Western Cape is poised to drive health innovation. The majority of the country’s medical device manufacturers (43%) are based in our province.
The Cape Health Technology Park, set to be located in Pinelands, presents a significant opportunity to support health innovation.
The Western Cape Department of Economic Development and Tourism, in partnership with the National Department of Science and Technology, will invest up to R600 million in the facility.
This health technology hub will bring together research and development firms, universities, academic hospitals, government and the private sector to drive innovation.
The project is moving to the next stage of feasibility and preparation work for land acquisition has started.
We are confident this collaboration will lead to the development of new firms and intellectual properties which will establish our region as a globally competitive centre of health innovation.
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SOURCE: SOUTH AFRICAN OFFICIAL NEWS