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Trivitron Healthcare Eyes Over Rs
1,000-Crore Revenue In FY'22
Trivitron Healthcare currently has nine manufacturing
facilities across five locations - Chennai, Mumbai, Pune, Ankara and Helsinki --
and is in the process of constructing the tenth facility in Patalganga in
Maharashtra.
New Delhi: Domestic medical devices maker Trivitron
Healthcare is looking to clock revenue of over Rs 1,000 crore in fiscal year
2022 as it expands the number of manufacturing facilities and also eyes
inorganic growth, a top company official has said. Trivitron Healthcare
currently has nine manufacturing facilities across five locations - Chennai,
Mumbai, Pune, Ankara and Helsinki -- and is in the process of constructing the
tenth facility in Patalganga in Maharashtra.
The company is expecting to close the current fiscal year
with a revenue of around Rs 700 crore.
"We are looking at a revenue of over Rs 1,000 crore for the
fiscal year 2022. It will be achieved through organic and inorganic growth,"
Trivitron Healthcare Chairman and MD GSK Velu told.
At present, 60 per cent of the company's revenue come from
India and 40 per cent is international, he added.
"Going forward, Africa is going to be one of the biggest
areas of growth for the company. We are also looking at both the US and China as
key markets for growth this year and plan to have some kind of manufacturing
presence in both the countries in the current calender year," he added.
Manufacturing presence in the US and China would strengthen
company's presence in the two of the most important markets globally, Velu said.
Mostly, it would be through joint ventures with existing
companies there, he said adding that the company already has a presence in these
markets through trading infrastructure.
At present the company is mainly in-vitro diagnostics,
imaging, intensive care, operation theatres and renal dialysis segments, he
added.
"Out of these, in-vitro diagnostics and imaging contribute
more than 85 per cent of our total revenues currently," Velu said.
But going forward, the company is focusing on the areas like
radiation protection and newborn screening, he said and added that it is also
investing in research and development in mass spectrometry and radiation
shielding.
"The company is focusing on manufacturing and at present
around 70 per cent of our revenues are coming from manufacturing," Velu said.
The company also has plans to list in FY23, but it would
depend on many factors, he said.
On being asked about the state of medical devices sector in
India, Velu said, as the sector is different from the pharma sector, it should
have separate regulator and separate department of medical devices to promote
the segment.
https://health.economictimes.indiatimes.com/news/medicaldevices/trivitron-healthcare-eyes-over-rs-1000-crore-revenuein-fy22/73371525
Nagpur : Research Will Make Cochlear
Implants 50% Cheaper Says Nitin Gadkari
NAGPUR: Union minister Nitin Gadkari, on Thursday, revealed
that the Defence Research and Development Organisation (DRDO) has developed an
indigenous multi-electrode cochlear prothesis for the benefit of profoundly deaf
people which will cut the cost of cochlear implants surgeries in India by 50%.
The existing cost is more than Rs6.50 lakh.
“The DRDO team gave a presentation on the subject two days
ago in New Delhi. This Made in India implants will bring a revolution in the
field of cochlear implant surgeries and thousands of kids born deaf will be
benefited,” he said.
Gadkari was addressing the inaugural function of the 72nd
annual conference of the Association of Otolaryngologists of India (AOICON 2020)
at Chitnavis Centre. Former chief minister of Madhya Pradesh Shivraj Singh
Chouhan was the guest of honour.
About medical devices park project under MSME ministry,
Gadkari said, “Medical devices parks will be opened to work on reducing costs of
manufacturing goods. MRI machines costing Rs 5 crore are being made available in
such parks at only Rs 98 lakh.”
The national convention of ENT surgeons AOICON will showcase
vast expanse of otolaryngology field. Organizing chairman Dr Madan Kapre said
that the conference will lay special emphasis on prevention of oral cancers
along with advances in management. More than 1,800 delegates from all over India
and abroad are attending the conference. Around 480 scientific research papers
will be presented.
National president of AOICON Dr Satyaprakash Dubey appealed
that Maharashtra Government should start a statewide mission to facilitate
cochlear implant surgeries of poor patients on the lines of Madhya Pradesh.
Replying to his appeal, Gadkari said that proposal has already been sent to the
state government and chief minister will take final decision on it soon.
During the function, AOI felicitated veteran ENT surgeons Dr
Krishnakant Bhargava, Dr KP Morwani and Dr Mohan Kameshwaran with lifetime
achievement awards.
https://health.economictimes.indiatimes.com/news/medicaldevices/nagpur-research-will-make-cochlear-implants-50-cheaper-says-nitin-gadkari/73187603
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