Chennai, May 19 Medical technology company Trivitron has signed three joint venture pacts with Aloka from Japan, Biosystems of Spain and Brandon Medical of UK to manufacture black and white ultrasound systems and colour dopplers, and a wide range of diagnostics reagents and shadow-less operating theatre lights.
The company today laid the foundation stone for the Medical Technology Park to house these facilities at the SIPCOT Industrial Park at Irungattukottai, Sriperambudur near Chennai. Once established, Trivitron will focus on manufacturing medical equipment in the areas of critical care, cardiac care, imaging and routine laboratory diagnostics. Initially, it will manufacture products including X Ray machines, C Arm, ECG machines, stress test systems and holter monitors, syringe and infusion pumps, with the support of its in-house technology.
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.
Spread over 23 acres, the park will see an investment of over Rs 250 crore in the first phase. While Trivitron plans to invest Rs 170 crore in the project, the rest (Rs 80 crore) will be brought in through its joint venture partners. Trivitron is also exploring the possibility of converting the park into an SEZ after acquiring another two acres in the same location. Initially, Trivitron will use 15 acres of land for manufacturing its products through technology transfer arrangements and the remaining 10 acres will be allotted to its joint venture partners.
According to Dr G.S.K. Velu, Managing director, Trivitron Group of Companies, the intention is to develop quality and cost-effective medical technology products suited to the needs of developing countries.
“As these products, once manufactured in the country, would be at least 30 to 40 per cent cheaper than imported, even hospitals or institutions in rural areas would be able afford,” he said.
Besides, Trivitron is also planning similar joint venture facilities with two more companies from Europe and Japan for various other medical technology equipment.