The Hindu Business Line : Trivitron Medical acquires Vision Engineering

Medical devices and clinical diagnostic equipment company, Trivitron Medical Systems, has acquired Vision Engineering Pvt Ltd (formerly Siddalakshmi Engineering), an X-ray machine manufacturing company in Pune.

Vision Engineering has been manufacturing X-ray machines for brands such as GE and L&T. According to Dr G S K Velu, Managing Director, Trivitron, the company would now modernise the facility and start manufacturing X-ray machines and market under the brand ‘Pride’.

However, he said the facility would continue to manufacture machines for other brands too.

Declining to disclose the price at which it bought the facility, he said, “Including modernisation expenses, it would come to over Rs 10 crore,” he said.

Last year, Trivitron announced that it would invest Rs 250 crore in creating a Medical Technology park at Sriperumbudur for which it acquired 25 acres for the purpose.

The company’s two-pronged strategy is to create facilities to manufacture patented medical and diagnostic equipment with joint venture partnership with major players abroad and to produce its own series of equipment ranging from imaging to other diagnostic and medical equipment either through technical collaboration with other players or on its own.

Early this week, it launched a series of such equipment under the brand ‘Pride’.

Mr Velu said that Trivitron would invest around Rs 100 crore for the patented equipment facility.

Another Rs 100 crore of investments into the ‘medical technology park’ would come from its joint venture partners. Trivitron has also secured $11-million private equity investment from HSBC Private Equity (Asia) Fund and ePlanet Ventures.

It also signed three joint venture pacts with Aloka from Japan, Biosystems of Spain and Brandon Medical of the UK to manufacture black and white ultrasound systems and colour dopplers, and a wide range of diagnostics reagents and shadow-less operating theatre lights.

In the Trivitron-Aloka joint venture, Aloka will have 60 per cent stake and Trivitron will have 40 per cent.

In the cases of Biosystems and Brandon Medical, Trivitron will be the majority stakeholder with 60 and 51 per cent respectively.

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