Chennai-based medical device manufacturer Trivitron Healthcare will enter into cardiac devices vertical and is looking to acquire companies that specialise in this segment.

Speaking to BusinessLine at the sidelines of a symposium on the latest diabetes diagnostic tool organised by Trivitron healthcare and France-based medical devices manufacturer Sebia, GSK Velu, Founder and Managing Director, Trivitron Healthcare said the company is looking at cardiology and orthopaedic devices as the next area for expansion and will do so organically.

The company currently manufactures imaging equipments like Ultrasound and other diagnostic tools. Velu said the company is expected to close FY17 with turnover of ₹700 crores and is growing at the rate of 15 per cent.

The company recently acquired 60 per cent stake in a Turkish company Bome Sanayi Urunleri Dis Tic Ltd for new-born screening at an investment of ₹40 crore last quarter. The Turkish firm has 100 per cent market share in new-born screening tests and screens 1.8 million babies annually.

Accreditation for the new factory in Sriperumbudur is expected to be completed by April 2017, after which the company will begin exports. “Right now we are catering only to domestic demand. Post April 2017, 75 per cent of the production will be exported,” he added. The contribution from the new factory is expected to be ₹100 crore after exports. Right now it accounts for ₹25 crore. Another factory for manufacturing X-ray machines, which is underconstruction in the same campus, will be commissioned in April 2017.

Related Topics
comment COMMENT NOW