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HSBC PE (Asia) Fund, ePlanet To Invest US$ 11 Mn In Trivitron

Trivitron, India's leading medical technology company, has announced a significant investment of US$ 11 million, by a wholly owned subsidiary of the HSBC Asian Ventures Fund 2 Limited advised by HSBC Private Equity (Asia) Limited and ePlanet, a global venture capital and private equity firm.

Both firms will together hold a minority stake in Trivitron. The funds raised will facilitate Trivitron's ambitious manufacturing business plans through acquisitions and joint ventures and will be used for the infrastructural development for Trivintron's forthcoming medical technology park. Veda Corporate Advisors acted as advisor for this transaction.

The proposed Rs 250-crore medical technology park is a first of its kind initiative and will promote indigenisation of medical technology in India. Trivitron has also requested the government of Tamil Nadu to allot 25 acres of land near Chennai to start this project.

Speaking on the occasion, Dr G.S.K. Velu, MD of Trivitron Group of Companies said, "The Indian medical technology industry accounts for an expenditure of US $ 2.7 billion with US $ 2.4 billion of it accruing towards import alone. Our forthcoming medical technology park would be the first step towards indigenisation of medical equipment manufacturing in India thereby making India one of the leader among other medical equipment manufacturers around the world. We are delighted that reputed global investments firms like HSBC Private Equity (Asia) Limited and ePlanet have shown trust in our vision and aggressive growth plans to reach the 1000 crore revenue mark by 2010".

According to James Savage, investment director, HSBC Private Equity (Asia) Limited, "The healthcare industry is one of the fastest growing service sectors in India, and the private sector is witnessing a paradigm shift from predominantly small scale operations to large scale institutional organisations. With population growing at 1.38 per cent, we see a steep rise in demand for high quality medical equipment at competitive prices. With over a decade of experience in the sector, we believe Trivitron is well positioned to benefit from this opportunity".

As a result of the investment, Trivitron can leverage HSBC Private Equity (Asia) Limited's extensive network and reach in other Asian markets to expand their presence overseas," he added.

Chandrasekar Kandasamy, MD, ePlanet Ventures said, "With an existing portfolio of more than 15 companies in the healthcare and life sciences arena, coupled with a dedicated team, ePlanet, has special interests in this sector. Our strong focus especially in the healthcare devices space, could provide significant value addition to Trivitron and help them in identifying and acquiring companies in the healthcare space worldwide.

"Moreover we believe Trivitron will provide a platform for our global partners for their entry into India, to set up manufacturing facilities and distribution centres for medical equipments to serve both the local and global markets".

Medical Device market is growing exponentially. According to official statistics, the number of clinics and hospitals has increased almost four times since 1950. This has led to an increase in demand of high quality, specialised medical equipment, which at a 15 per cent annual growth rate is expected to touch $ 3.67 billion by 2012. The Indian healthcare sector has also seen a progressive increase in investments in infrastructure and facilities, especially hi-tech medical devices. This has made the medical device sector an one of the most promising markets in India.

Trivitron is one of the top 10 medical technology companies in India and aims to bring in a revolution in manufacturing industry. It operates in the field of medical equipment, medical devices, clinical diagnostic equipment, medical consumables & disposables, medical software and consultancy services.

(Ref: The Chronicle Pharmabiz dated November 8, 2007)

Fresenius Group Net Profit Up By 28%

Fresenius Group, a health care group with international operations, providing products and services for dialysis, hospital and outpatient medical care, has posted strong growth of 27.9 per cent in net profit during the first nine months ended September 2007 to Euro 298 million from Euro 233 million in the similar period of last year. The group's sales increased by 7 per cent to Euro 8,390 million from Euro 7,843 million. EBDIT margins improved to 17.7 per cent from 17.2 per cent. Earning per share were Euro 1.92, representing an increase of 26 per cent.

In North America sales grew by 14 per cent to Euro 3,741 million from Euro 3,556 million due to the Renal Care Group consolidation and in Europe sales increased by 7 per cent to Euro 3,528 million from Euro 3,297 million.

The group spent Euro 485 million for property, plant and equipment and intangible assets. Acquisitions were Euro 242 million. The operating ash flow increased by 44 per cent to Euro 912 as against Euro 588 million, driven by the strong earnings increase. The group's total asset increased by 4 per cent in to Euro 15,054 million from Euro 15,024  million. As at the end of September 2007, Fresenius increased the number of its employees by 5 percent to 1.10 lakh.

All the divisions of the group improved working  during the first nine months of 2007. Fresenius Biotech is engaged in developing innovative therapies with trifunctional antibodies for the treatment of cancer as well as cell therapies for the treatment of the immune system. It has successfully marketed ATG-Fresenius S for many years. The company is in discussions with potential partners for marketing of removab, for patients with malignant ascites, in USA and Japan.

Fresenius Medical Care achieved strong sales growth of 16 percent to US$ 7151 million in the first nine months of 2007. Its EBIT rose by 19 per cent to US$ 1,152 million. Fresenius Kabi offers infusion therapies and clinical nutrition, posted sales of Euro 1,494 million during the first nine months of 2007 and earned a net profit of Euro 132 million. Fresenius ProServe, a leading German hospital operator with 58 facilities, recorded sales of Euro 1,601 million.

Based on the Group's working during first nine months, Fresenius now expects net income to increase by more than 25 per cent and net sales by 9-10 per cent in 2007.

(Ref: The Chronicle Pharmabiz dated November 8, 2007)


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