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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.

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.

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