BATU KAWAN: US-based medical devices company Dexcom Inc has officially opened its new manufacturing facility, also its first offshore manufacturing site outside the United States, in Batu Kawan, Penang.
Penang Chief Minister Chow Kon Yeow said the RM2.83 billion strategic investment will bring more than 3,000 jobs to the state, contributing to a workforce set to positively impact the lives of over three million people worldwide.
Dexcom, founded in 1999, is a global leader in continuous glucose Monitoring (CGM) technology for individuals living with diabetes.
"The establishment of this new facility highlights Dexcom's continued commitment to take control of health through innovative CGM systems.
"It also reaffirms Penang's reputation as a global hub for advanced technological industries, reinforcing its position as a preferred destination for high-quality manufacturing and innovation," the chief minister said in his speech at the opening ceremony here today.
Penang Development Corporation chief executive officer (CEO) Datuk Aziz Bakar, InvestPenang CEO Datuk Loo Lee Lian, and Dexcom chief operating officer Jake Leach were also present at the event.
Chow said Penang is on the right path towards becoming the medical technology (medtech) hub of Southeast Asia by leveraging on the state's over 50 years of industry excellence.
"Housing the largest number of medtech companies nationally and regionally, Penang remains a highly attractive location for its infrastructure availability and ecosystem that meet the needs of the medtech industry.
"For the past five years (2019 - 2023), Penang garnered a total of RM5.8 billion worth of investments in the scientific and measuring equipment sector, representing 45 per cent of the nation's total investments in this sector, involving 33 projects and generating an estimated 4,630 employment opportunities," he said.
Dubbed the Silicon Valley of the East, Penang has the highest concentration of medical technology companies in Malaysia and Southeast Asia to date.
Chow added that Penang maintained its lead as the nation's top exporter in September, with a 37.5 per cent share or RM46.5 billion of total trade.