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Poly To Explore Global Medical Devices Market With Rs 100cr Investment

The New Delhi based PolyMedicure Pvt. Ltd., manufacturer and supplier of medical devices and disposables, is planning to invest Rs. 100 crore by 2013 to expand its presence in overseas market with a thrust on safety medical devices and outsourcing manufacturing and research activities.

The company, which currently has almost 75 per cent of its total Rs. 135 crore revenue from exporting products to more than 80 countries including US and Europe, is planning to invest around Rs. 100 crore within 2013 to increase its presence in global market and to explore the potential of outsourcing market, said Rishi Baid, executive director, Poly Medicure Ltd. The company is also mulling on acquiring a medical devices company with research and development focus in US, by spending around US$20 to 30 million.

“In the next three to five years, our focus will be on safety devices market. We are expecting our revenues to grow from Rs. 135 crore to Rs. 300 to 400 crore by 2013”, Baid averred. The target for the financial year 2010-2011 is fixed at Rs. 175 to 200 crore.

The company sells its safety device product to almost 30 countries including South America and Middle East. The safety device portfolio is expected to increase to 30 to 40 percent of its revenue in next five years, from a meager eight per cent reported at present, he added.

Focusing on capacity expansion of the existing manufacturing facilities, this year, the company also plans to set up a manufacturing facility – probably through a tie up-in South America by 2012, to grab the market especially in Brazil. The green field project is expected to complete at an investment of Rs. 50 crore.

At present, it has two manufacturing facilities – one under a joint venture in Egypt and another 100 percent subsidiary in China – outside the country even as it maintains four manufacturing plants in India – one in Jaipur, two in Faridabad and one in Haridwar. Further, a new manufacturing plant is planned to be set up in Jaipur to develop unique safety device products, for which the works will be initiated in 2011 and expected to complete in March 2012.

However, the Indian medical devices companies are in a better position to explore the emerging outsourcing potential with its skills and cost advantage. “Indian companies can offer products in regulated market in much less price than the products manufactured there. We are offering our safety IV cannula in Europe at 20 per cent less than the prevailing market price there,” reveals Baid. “The recent victory in the German court over the medical devices major B Braun in the IP related dispute has catalysed our urge to grow globally,” he added.

PolyMedicure is currently operating on selected medical devices and disposable segment, which has a potential up to Rs. 1000 crore and currently has five per cent market share. Through the capacity expansion, the company is targeting to bag 10 per cent of the market share by 2012.

(Ref: Chronicle Pharmabiz Dated April 1 , 2010)

TTK Healthcare To Grow Medical Devices Biz, Enters Orthopaedic Implants Market With US Tie-up

TTK Healthcare, a part of Rs 1500 crore TTK group and producing heart valves, has forayed into the orthopaedic implants segment dominated by players like Johnson & Johnson, Zimmer, Stryker and Indus.

As part of the plans to grow the medical devices business, it has forged a technical tie-up with B P Trust, US, to manufacture and market various orthopaedic implants under the brand "Altius".

B P Trust is controlled by Dr Frederick F Buechel, a renowned ortho surgeon, and Dr Michael J Pappas, an international expert in advanced design. The ortho division of TTK Healthcare will initially focus on the knee replacement system.

As part of the plan to consolidate the medical devices business, it will take up the development of hip, ankle and shoulder replacements in a phased manner. Like heart valves, TTK Altius hi-flex knee is competitively priced at Rs 35,000. It is the only knee surgical implant manufactured in India with a US FDA cleared design.

Group Vice Chairman TT Raghunathan said on Monday to enter the field, TTK Healthcare last year had acquired the ortho implants business and assets of Invicta Meditek at Ambattur in Chennai for Rs 5 crore. It also made further investments at the unit. It has supplied 150 third generation New Jersey knees to various hospitals and they are doing well.

While it is producing 80 knees per month, it is to be increased to 300 in the next 12 months. It is aiming to touch 5000 knees per month in the third year. The company is setting up a new facility at Mahindra world city SEZ near Chennai and will be investing Rs 20 crore over 18 months, he said.

Referring to the huge potential to tap the market, Raghunathan said against the five lakh knee implants done in the US every year, it was estimated to have touched 40,000 in India in 2009. But, with growing number of patients and medical insurance benefits it is expected to grow at over 30% to touch 1.18 lakh a year by 2015.

Dr Buechel and Dr Pappas said the knee is designed to suit the different requirement of Asian population. Some of the features that make the New Jersey knee special are: maximum product life ( 30 years), easy to implant, hi flexion angle- designed for 162 degrees, no dislocation, lowest contact stress etc.,

TTK Healthcare ED, K Vaidyanathan said so far, one million knee implants have been performed in India. The knee implants are the result of over 25 years of development, clinical investigation and use by the US partner. The high tech third generation product is being made indigenously like a German or Japanese car for the domestic market.

Raghunathan said after TTK entered heart valves market with a competitive price, has done about 50,000 implants. During 2009-10 alone it touched 10,000. The company had successfully commercialised the technology originally developed by Sree Chitra Tirunal institute of medical sciences & technology at Thiruvananthapuram. It has its valves facility there.

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