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In-Vitro Diagnostic (IVD) solutions provider Transasia Bio-Medicals Limited plans to set up manufacturing plants in the country.
“We are looking at adding more manufacturing plants in the country and going for an Initial Public Offering (IPO) over the next two years,’’ Suresh Vazirani, Chairman and Managing Director, told newspersons here on Saturday.
The Transasia-Erba group company, however, is yet to finalise the modalities in this regard.
He said the company, with revenues of ₹1,300 crore, had so far acquired 14 overseas outfits for technology. With this option saturated, the Mumbai-based company is looking to expand its manufacturing base.
Currently, Transasia has four manufacturing facilities in the country.
New launch
The company has launched its international haematology range of products, including fully automated haematology analysers.
Hematology analysers are used to run tests on blood samples. They are used in the medical field to do white blood cell counts, complete blood counts, reticulocyte analysis, and coagulation tests.
“We are encouraged by the initial response to the new range and will be targeting ₹300 crore in revenues from the Indian market this fiscal,” Vazirani said.
The Indian IVD market size is pegged at ₹6,500-7,000 crore, with a CAGR (compounded annual growth rate) of 7.2 per cent.
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