Corporate Updates

ePlanet (US) to invest in Chennai medical technology company Trivitron

US-based venture capital fund ePlanet is in talks to invest $12 million in Chennai-based medical technology company Trivitron. ePlanet, which recently set ip offices in Bangalore and New Delhi,and has massive funds ear-marked for investment in India and China, will pick up a strategic minority stake in the Rs 150-crore company that straddles the entire technology spectrum of medical devices. The deal is expected to go through by early October. This could be ePlanet’s first investment in India from the $500 million new global fund.Sources said, the decade-old Trivitron was raising capital for its aggressive expansion drive, which include a Rs 250 crore technology park planned on the lines of an SEZ. When contacted, Trivitron MD, GSK Velu, said no decision of funding has been taken as yet. Trivitron operates in the field of medical equipment, medical devices, clinical diagnostic equipment, medical consumables and disposables, medical software and consultancy services. The product portfolio includes medical device solutions for imaging, cardiology, critical care, orthopaedics and radiology. Currently, Trivitron sources products from Europe, US and Japan. It plans to position the technology park as a cost-effective manufacturing hub, and is looking at multiple partnerships.


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