GEORGE TOWN: US-based Symmetry Medical, a leading provider of implants, instruments, sterilisation cases and design services to orthopaedic-device manufacturers is aiming to triple its head count and double its revenue to US$50 million (RM170.1 million) from its Penang facility within the next few years.

Symmetry president and CEO Brian Moore said the Penang operations, the only one in Asia, will see an increase in its headcount from its present 70, to 200 in tandem with strong demands from its global customers.

New York Stock Exchange-listed Symmetry currently occupies a 50,000 sq ft facility in Bayan Lepas where it designs and manufacturers implants, instruments and sterilisation cases for markets in Asia, Europe and the US.

It also designs, develops and produces these products for companies in other medical fields including dental, osteobiological and endoscopy.

Moore said Symmetry offers a total-solutions approach, working directly with clients to offer a broad range of products, comprehensive services and production capabilities to bring its implant systems to market quickly and effectively.

Including Penang, the medical-devices company has 20 manufacturing facilities worldwide.

Moore said Symmetry Penang will also be the international sales centre for Asia, South America, the UK and Australia and a full-blown facility for Symmetry over the next few years.

Moore said Symmetry Penang, which started operations in October 2008, will see a total of RM50 million invested in the next two years.

"Symmetry Penang will be the fastest growing facility for Symmetry worldwide. When we started, we only had 35 personnel and we doubled that to 70 recently. We are committed to significantly increasing the headcount here to over 200. We are looking at hiring engineers with medical experience and also personnel to serve this facility's international sales centre.

"Development plans for Symmetry Penang's operations are significant and include and increase in medical-product design and development as well as instrument and implant manufacturing exclusively for Asian markets," Moore said at a press conference that was also attended by Chris Huntington, Symmetry's senior VP for Asia Operations."

Moore said the revenue from the Penang operations to the group would increase from the present 5% to 10%, to 20% to 25% in the next three to four years.

"To date ,we have spent RM20 million and the rest of the investment, RM30 million, will be spent on our design and development, technology, and design tools that will enable us to develop know-how and intellectual property," he added.

Moore said, with 70% of its business currently focused on orthopaedics, Symmetry is also looking at increasing its products for the endoscopy sector.

"There is a growing market for this and we are developing the technology in the US, which will then be brought to Penang. We hope to increase our revenue from endoscopy devices from the present US$1 million, to US$5 to US$6 million quickly," he added.

Symmetry also provides some specialised products and services to non-healthcare markets such as the aerospace industry.