Financial Daily from THE HINDU group of publications
Friday, Aug 12, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 12, 2005 |
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Corporate
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Outlook Philips to focus on medical systems, sees 25% growth Our Bureau
Mr K. Ramachandran, CEO, Philips India Ltd, at a press conference in the Capital on Thursday. — Kamal Narang
New Delhi , Aug. 11 PHILIPS India Ltd hopes to carve out a substantial share in the Rs 1,500 crore medical equipments market. Currently, it has 17-18 per cent market share, and expects to grow 25 per cent annually. Mr K. Ramachandran, CEO, Philips India, told reporters that the company is the market leader in cardiac medical systems and high-end CT scans. Mr Anjan Bose, Managing Director, Philips Medical Systems India, said leading healthcare providers in the country used its equipment. Its main competitors are GE, Siemens and Toshiba. Internationally, Philips is working on personalised products to help people monitor everyday health. In India, the company launched a defibrillator used to revive patients after a cardiac attack. "While resident associations in the US are opting for this to tackle emergency situations, in India too companies are evincing interest," said Mr Bose. Kingfisher Airlines, Satyam and a security service company are buying this product. The company also offers technology that can help create different hospital ambiences — such as a pleasant scenery or bringing cartoon characters to life etc. Molecular imaging is the next big technology that the company is working on. The company along with ISRO, Apollo Telemedicine Networking Foundation and Humane Action Advancement offers telemedicine services in Theni district in Tamil Nadu.
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