Medsalv Announces First Australian Remanufacturing Facility

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Press Release from Victorian Treasurer Tim Pallas: (Link to original)

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"REMANUFACTURING FACILITY A WIN FOR CIRCULAR ECONOMY

JUNE 14, 2024

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A new facility in Geelong is bringing new and sustainable remanufacturing to the Australian healthcare system, thanks to support from the Allan Labor Government.

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Minister for Economic Growth Tim Pallas today opened the new manufacturing and R&D facility for the medical device remanufacturer Medsalv, which is expected to create 49 jobs over the next five years and help bolster local medical supply chains as well as exports to potential markets in the Asia Pacific and Europe.

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Last year, the Labor Government supported the extension of ManuFutures with a $10 million investment. Dubbed ‘ManuFutures 2’, the new facility enables businesses to access product engineering services, incubator programs and spaces for training and collaboration.

The facility, located in ManuFutures at Deakin University’s Waurn Ponds Campus, will allow the company to remanufacture single-use medical devices from Australian hospitals locally for safe use. The process involves sorting, cleaning, testing, inspecting, packaging and relabelling of products to prevent them from going into landfill.

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The company’s product remanufacturing portfolio currently includes patient transfer mattresses, deep vein thrombosis prevention sleeves, blood pressure cuffs and tourniquets. This is set to expand through its R&D activity, which will investigate new methods and technologies for remanufacturing other single use medical devices.

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Being part of the ManuFutures Hub means Medsalv is in close proximity to other world leading advanced manufacturing businesses and university researchers, helping facilitate collaboration to develop, field test and make new products.

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The Allan Labor Government continues to work closely with the private sector. The Economic Growth Statement due out later this year will focus on growing workers’ real wages and household incomes – ensuring no Victorian is left behind as Victoria remains the best place in Australia to get a job and to grow a business.

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The Labor Government continues to back businesses by cutting taxes and red tape – with thousands of Victorian businesses set to benefit from our tax reforms from 1 July, saving businesses around $900 million over the next four years and delivering huge economic benefits to Victorians.

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Minister for Economic Growth Tim Pallas

“Congratulations to the Medsalv team on the opening of their new facility, which will deliver significant returns by bolstering our medical supply chains, providing jobs to those that need it most and will keep medical products out of landfill.”

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“Medsalv’s decision to establish their remanufacturing and R&D facility in Victoria demonstrates our standing as a leader in advanced manufacturing and healthcare innovation.”

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Medsalv founder and CEO Oliver Hunt

“This new facility in Geelong, our first in Australia, represents an exciting step in our drive to change healthcare for good; delivering our sector leading financial, environmental, and social sustainability benefits to more hospitals, through our next generation business model.”

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