The Hindu Business Line : Poly Medicure in marketing tie-up with US company

New Delhi April 16 Poly Medicure Ltd, which celebrated its 10th anniversary on Saturday, has tied up with a mid-sized US company to market its products there.

This would give the medical disposable devices company its first step into exports to the US market after its acquisition of US Safety Syringes in March last year. Through the acquisition, the company got two USFDA approved products, safety syringes and safety blood collection holders. Apart from this it acquired eight patents and plant machinery.

It has also been on the lookout for a strategic partner to take it to the next level of growth. About 85 per cent of its turnover comes from exports. Poly Medicure manufactures over 40 products such as IV cannulaes, infusion therapy devices, central venous access catheters, anaesthesia and blood management devices, among others. The company exports to the European, African, Asian and South American markets. In December it had earned a single export order of medical devices worth Rs 8.5 crore from West Asia.

The total turnover of the company for 2005-06 was Rs 73 crore, which is growing at a rate of 40 per cent annually, compared to the industry growth rate of 10-15 per cent. The company is also looking at expanding its present capacity of manufacturing medical disposables from 130 million to 180 million with an investment of Rs 25 crore to cater to the increasing demand in the domestic and international market. With private players entering the domestic healthcare market, the company hopes to pick up a substantial share of the estimated Rs 7,000 crore domestic medical disposables market.