US-Based Dexcom Chooses Malaysia To Open Its Third Continuous Glucose Monitoring System Manufacturing Site
DexCom, Inc. (Nasdaq: DXCM), a global leader in continuous glucose monitoring (CGM) for people with diabetes headquartered in San Diego, California, has chosen Batu Kawan Industrial Park as their third manufacturing site. This new site, the first outside of the United States (US), will help increase the production of Dexcom’s industry-leading CGM systems.
YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI), in welcoming Dexcom into Malaysia’s medical devices ecosystem, said, “This is an excellent example of how global companies are making their decisions based on investment fundamentals. Despite the current pandemic, Malaysia remains an attractive investment destination due to its diversified economy and comprehensive ecosystem. These offer companies the potential to realise many business opportunities.”
“We are confident that Dexcom will benefit from our solid ecosystem backed by strong supporting industries, pragmatic investor-friendly business policies as well as global conformity-assessment bodies that are already present in the country. We hope that Dexcom’s investment here will be a boost for leaders within the industry and its supply chain network to choose Malaysia as their investment destination,” Dato’ Seri Mohamed Azmin said.
He added, the industry shows great promise in generating high-income jobs, building greater export value, and reinforcing the domestic supply chain ecosystem. “It will be a boon to our industry for new investments to support our local businesses through technology transfer and integrating our local vendors into their global supply chain,” Dato’ Seri Mohamed Azmin said.
Dexcom’s proposed manufacturing facility will create significant job additions over the next ten years, including roles in manufacturing, facilities management as well as manufacturing related research and development (R&D) and will be designed for potential growth and expansion over time.
Mr. Quentin Blackford, Executive Vice President, Chief Financial Officer and Chief Operating Officer at Dexcom said, “We recently made the decision to develop our third manufacturing site in the Batu Kawan Industrial Park, Malaysia to support our continued growth.”
“After vetting numerous potential locations, we determined this site in Malaysia is a great fit for our future manufacturing needs. The growing awareness of Dexcom CGM and our belief in the significant growth opportunity for our technology are driving the need for expanded manufacturing. This new site is supplemental to our existing manufacturing facilities and will help Dexcom meet the needs of global demand for CGM for years to come,” Blackford added.
With capabilities of producing high value-added and technologically advanced products such as cardiac pacemakers, stents, orthopedic implantable devices, electro-medical, therapeutic and, monitoring devices, Malaysia is well-positioned to be the manufacturing hub for medical devices in Asia.
As of 2019, a total of 402 medical devices projects with investments worth RM20.5 billion (USD5.6 billion) have been implemented in Malaysia and created more than 76,500 jobs for the country. For 2019 alone, the Malaysian Investment Development Authority (MIDA) approved 31 medical devices manufacturing projects worth RM3.98 billion (USD0.97 billion).
MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation’s rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country’s stated goal of becoming a developed nation.
MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.
For more information, please contact:
Ms. Balkish Mohd Yasin
Director, Life Sciences & Medical Technology Division, MIDA
Tel.: 03-2267 3458 | Email: [email protected]