LordsMed, the global healthcare division of Lord’s Mark Industries, has launched an in-vitro diagnostics (IVD) manufacturing facility at Vasai, on the outskirts of Mumbai. The 20,000-sqft facility will manufacture IVD and point-of-care diagnostic solutions such as analysers, reagents for clinical biochemistry, haematology, serology, immunology, rapid testing kits (ICMR-approved antigen kit), and lab consumables.
It can facilitate 1.7 crore diagnostic tests a month, with plans to scale up at an investment of ₹33 crore.
LordsMed plans to facilitate backward integration, reduce import dependence, build self-reliance in procurement, and venture into the original equipment manufacturer (OEM) market.
The company targets R&D collaborations for developing rapid test kits. It recently partnered with a Singapore-based diagnostics kit manufacturer, Sensing Self. It is in discussions with distributors in Africa to export IVD solutions to that region.
Sachidanand Upadhyay, Founder, Lord’s Mark Industries, said the pandemic has opened up a huge market for IVD and point-of-care diagnostics solutions.