Medical sector aims to hit $1b

New Zealand medical technology companies say they can be a billion dollar industry within five years.

The Emerging Medical Technology Group (EMTG) has been set up as a steering committee under the umbrella of the Medical Technology Association of New Zealand, which represents manufacturers who supply medical technology.

EMTG chairman Simon Hall said companies in this sector were poised to double their revenues from $587 million to $1.2 billion in five years' time.

- NZPA