Chennai, April 25 (Inditop) Medical equipment marketing and manufacturing firm Trivitron Healthcare Ltd is planning to set up a medical equipment park in Pune, a top official said.
“It will be a mini industrial park for manufacturing small sized medical equipment. We will look for companies that manufacture infant care equipment like incubators and cardiac care machines,” Trivitron managing director G.S.K. Velu told IANS.
The park will come up near X-ray machine manufacturing company Vision Engineering in Pune which Trivitron acquired in January 2009.
Trivitron, based here, is also building a 25-acre medical technology park at Sriperumbudur in Tamil Nadu.
“The work is on at good pace and (the park) will be fully operational in 2011-12. The park is mainly to house our manufacturing joint ventures that may number around 10,” Velu said.
The outlay for both parks is around Rs.250 crore of which Rs.150 crore will be from Trivitron and the balance from the companies that set up units in the parks.
In November 2007, Trivitron raised $11 million for joint ventures and building the industrial parks from a wholly owned subsidiary of HSBC Asian Ventures Fund 2 Ltd and ePlanet, a global venture capital firm, by giving them minority stakes.
Meanwhile, Trivitron has also inked a joint venture deal with Spanish company BioSystems to manufacture in-vitro diagnostic (IVD) reagent near here.
The duo has floated a joint venture company called Trivitron BioSystems Diagnostic Ltd in which the Indian company will hold 51 percent stake.
“We will invest around Rs.50 crore to manufacture 150,000 litres of reagents,” Velu said.
Reagents are chemical solutions used as a test substance that is added to see whether a reaction occurs or not.
Antonio Elduque, managing director of BioSystems, told IANS: “India is the only country where we are setting up a production plant outside Spain.”
Added Velu: “The marked for IVD reagents is estimated to be around Rs.500 crore in India. The import duty on IVD reagents is around 30 percent.”
This is the third manufacturing joint venture for Trivitron in recent times. The company has inked joint ventures with Brandon Medical for making operation theatre bulbs and Aloka of Japan for portable ultrasound scanners.
rounak