Philips Identifies India For Medical Equipment Biz

PHILIPS has identified India along with China and Japan to grow its medical equipment business in the Asia Pacific region. The company wants to grow this business in India with its next generation imaging equipment to be rolled out in phases from its global portfolio. "India is a strategic market for Philips globally to grow its medical equipment business. The growth here will be triggered by the huge private investment in healthcare and growing spending power of the patients," said Philips Electronics India director (Sales & Marketing - Medical System) J Sunderrajan told reporters here on Saturday. Philips claims to have a dominant market share in product segment like Cath Lab, MRI and cardiac monitoring systems. The company is also contemplating to undertake clinical trials for medical equipment in India. However, it is yet to finalise plans for such activities. "Clinical trials for medical equipment is a complex process and there are several regulatory issues. However, we already undertake software trials for medical equipment in India to validate their efficacy," said Mr. Sunderrajan. (Ref: The Economic Times dated June 11, 2007)