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Trivitron JVs With Intl Cos. To Set Up India's
First
Medical Technology Park (MTP)
Chennai-based business group Trivitron has roped in international partners to
give India her first Medical Technology Park (MTP).
Trivitron, which makes medical technology products, has inked three joint
venture (JV) deals with Japan-based Aloka Company Ltd. (the innovator in
ultrasound), Biosystems of Spain and Brandon Medical of the UK that would see
India, for the first time, produce its own high-end, cost-efficient medical
technology products, including critical care equipments.
While Trivitron would hold 40 percent stake in the JV deal with Aloka, in the
other two deals with Biosystems and Brandon Medical, it would hold 60 percent
and 51 percent stakes respectively.
According to Dr. G.S.K. Velu, managing director, Trivitron, an initial
investment of Rs.250 crore (approx. $60 million) would be made to set up the
park, which would stretch over an area of 23 acres in Irugattukottai, Chennai.
While Trivitron would invest Rs.170 crore ($42 million), the remaining amount
would be invested by the three joint venture partners.
The park would focus on developing medical technology products, making medical
instruments to the rural people both affordable and accessible, Velu said,
adding that about 3000 people would be employed in the next 3 years.
Initially, the focus would be on catering to the needs of the domestic medical
equipment market (estimated to be worth $3 billion) and depending on the
response, emerging markets in South Asia, West Asia and Africa would also be
tapped.
Trivitron, which plans to convert the park into a SEZ to avail of tax benefits,
said that for the first time, India will begin manufacturing medical technology
equipments. While, all other related fields focusing on medical technology have
developed in India, presently, most medical instruments are still being imported
due to lack of high-quality cost-effective home-grown branded products.
Manufacturing the products in India for domestic use would reduce their prices
by 30-50 percent, Velu claimed.
"India is 30 years behind (global standards) in high-end medical equipment.
Imagine where does a patient have to lie for at least five minutes under
low-frequency X-ray machine to get a proper image- Now digital X-ray machines
made in India will just need 20 seconds for the purpose," Velu said, adding that
India would emulate the success of China, which a decade ago, was importing
medical equipments and now is one of the world's largest maker and exporter of
medical equipments.
The MTP will have an electronics and electro-mechanical manufacturing unit for
production of various medical technology products, including ultrasound scanners
and color dopplers, operation theater lights, operation tables, ventilators and
other breathing apparatus, infusion and syringe pumps, clinical laboratory
equipments and neonatology equipments.
The Park will also house a state-of-the-art diagnostics reagents manufacturing
unit for full-fledged production of hematology reagents, clinical chemistry
reagents and immuno-turbidimentry reagents.
A medical consumables manufacturing unit for large-scale production of
anesthesia consumables, catheters and blood lines and tubings is also slated to
come up.
While the foreign JV partners would bring in high-end medical equipments,
Trivitron has acquired some Indian manufacturing companies whose facilities
would be upgraded for making low-end medical equipments that would meet
international standards.
While the venture involving Aloka is set to commence in January next year, those
with Biosystems and Brandon would begin in March 2009.
ABOUT TRIVITRON
Chennai-based Trivitron is the largest medical technology company of Indian
origin and one of the top 10 medical technology brands in India.
Trivitron specializes in a comprehensive range of medical device solutions
covering the fields of imaging, cardiology, nephrology, critical care,
orthopedics, anesthesiology, intensive care, obstetrics && gynecology,
radiology, urology, ophthalmology, gastroenterology, microbiology, biochemistry,
hematology, immunology, molecular biology, blood banking, surgery, home care &&
geriatrics.
Trivitron has 18 branch offices and over 100 dealers spread across India. It
also has two international offices in Sri Lanka and Dubai.
Ref :
http://in.ibtimes.com/articles/20080521/
trivitron-medical-technology-park-mtp-equipment.htm |
