Trivitron, the largest medical technology provider in India, has announced its alliance with BioSystems, Spain, to manufacture in-vitro diagnostic (IVD) reagents. Through this tie-up, BioSystems will manufacture IVD reagents for diagnostic lab use by setting up its manufacturing facility at Trivitron's Medical Technology Park in Chennai.
The JV between Trivitron and BioSystems will spend Rs 40 to 50 crore in the first phase of setting up the facility at the Medical Technology Park. The plant will be set up with the help of a specialist technical expert from Spain.
The new facility will cater to both domestic as well as foreign markets. Products are expected to roll out by the middle of 2010. The Medical Technology Park is coming up on a 23-acre land at Sriperumbudur in Tamil Nadu, in which Trivitron has already invested Rs 170 crore, said a company release.
First outside Spain
BioSystems is one of the largest manufacturers of clinical chemistry reagents and instruments in Europe. The company has its manufacturing facility at Barcelona. The Sriperumbudur facility will be the first outside Spain.
Mr Antonio Elduque, Managing Director, BioSystems, said , "With India becoming the most favourite destination in the world for healthcare, matching its infrastructure and technology with those in the UK, Europe and the US, we decided to expand our operations by setting up a manufacturing facility in India. We have identified Trivitron, which is creating a first-of-its-kind, world class medical technology park in Chennai."
Dr G.S.K. Velu, Managing Director, Trivitron, said, "Our focus in setting up a medical technology park in India is to manufacture medical equipment and diagnostic reagents in the areas of critical care, cardiac care, and imaging and routine laboratory diagnostics."
Source: The Hindu Business Line 23/04/09