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Philips Electronics India Ltd is betting big on the healthcare segment and is looking at expanding through both the organic and inorganic routes, a senior company official said today.
“We are looking at expanding through both the organic and inorganic routes. As a part of our expansion plans, we are setting up our fifth manufacturing facility at Chakan in Pune for manufacturing healthcare products,” the Philips Healthcare Vice-President & Business Head, Mr Krishna Kumar, told PTI here.
The company is a market leader in patient monitoring and healthcare informatics both globally and in India. “As a part of our growth strategy, we are actively looking at inorganic opportunities,” Mr Kumar said.
The domestic healthcare market-size is estimated at €1 billion and expected to grow at 16 per cent per annum.
Healthcare contributes 20 per cent to overall Philips business in India, he said.
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