Corporate Updates

Medical Devices will be affordable, says Medtronic

To help finance high-end medical devices for patients, the Medical technology company Medtronic has come up with affordable projects. The company has initiated two pilot projects at Durgapur’s Mission Hospital and Ahmedabad’s CIMS Hospital, said Mr Shamik Dasgupta, Medtronic-Director (Cardiac Rhythm Disease Management). This strategy is planned to implement and offer products to patients, to cut short delay between the time of diagnosis and the actual procurement of the medical device. For Instance , a patient requires to make a down payment for a pace-maker which costs from Rs 60,000 for a simple product to over Rs 1 lakh for certain specifications and close to Rs 6 lakh for high-end products. The patient will also have to pay additional funds to get the device which would be extended by “Healthy Heart for All,” an entity supported by Medtronic as mentioned by Mr Dasgupta . With the approval of the project, Medtronic would be willing to take the model to other markets where similar initiatives are required. The strategies undertaken by the company to increase its base in India are innovative financing schemes along with products tailored to local needs. The initiative taken by Medtronic the process to be quick and the interesting to extend patients needs to make sense. Medtronic also opened a manufacturing unit in Singapore for pace makers and leads. The company plans to spend 10 per cent of its turnover on research. This manufacturing plant will be the first plant in Asia to make cater to the Indian and Chinese markets.

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