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
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
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
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.