Trivitron group of companies, one of India’s largest medical technology companies today laid the foundation stone for the construction of their Medical Technology Park at the SIPCOT Industrial Park, Irungattukottai, Sriperambadur adjacent to Hyundai Car factory. The Medical Technology Park is first of its kind initiative in India and will be having collaborations with the world renowned medical technology companies. Trivitron has signed three Joint Ventures with Aloka from Japan, Biosystems of Spain, and Brandon Medical a UK based company to manufacture Black and White Ultrasound Systems & Colour Dopplers, Wide Range of Diagnostics Reagents and Shadowless High End Operating Theatre Lights. The Trivitron’s Medical Technology Park (TMTP) is spread over an area of 23 acres and will see an investment of over INR 250 Crores in the first phase of the project. Trivitron plans to invest INR 170 Crores in the project and the remaining 80 crores will be raised through various joint ventures. The upcoming facility will be built on par with international manufacturing standards and the layout abides the FDA and CE norms. Trivitron is also exploring the option of converting the park into SEZ after acquiring another 2 acre land in the same location. The aim of the Medical Technology Park is to develop high quality, cost effective medical technology products suited to the needs of developing countries. This will also enhance the accessibility and affordability of these products to the rural mass. The company will primarily focus on producing medical technology products for emerging markets with particular emphasis on South Asia, Middle East and African Markets. Trivitron will focus on manufacturing of medical equipments in the areas of Critical Care, Cardiac Care, Imaging and routine labortaory diagnostics. For the initial phase, it will manufacture products with the support of its in-house technology and R& D department which would include products like X Ray Machines, C arm, ECG Machines, Stress Test Systems and Holter Monitors, Syringe and Infusion Pumps, Haematology Reagents, Haemodialysis Concentrates etc. All products manufactured in the TMTP will be CE and US FDA approved and will be sold in all the emerging markets across the world apart from India. “Our aim is to position India as an alternate viable low cost manufacturing hub in the global manufacturing map of medical technology products.” said Dr. G S K Velu, Managing Director, of Trivitron group of companies. “Chennai has always been the most sought after destination for top multinational companies in the areas of Automobiles, Electronics, and Software etc due to its Industrial friendly policies. Moreover, the Government of Tamil Nadu has proactively helped us in bringing this project to the state. The MTP proposes to employ over 1000 people in the coming 3 years and will create abundant employment opportunities for the people of Tamil Nadu. The products manufactured in MTP will be priced 30 to 50% less than the current MRP” Mr. Yoshihiro Yoshikawa, President, Aloka Co. Ltd., Japan said, “We are pleased to partner with Trivitron in this project, which is sure to change the face of the Medical Technology manufacturing industry in India. The demand for high quality ultra sound equipments is constantly increasing. The domestic manufacturing will help in keeping a check on the rising cost of healthcare in India. Our rudimentary objective is making quality healthcare affordable to the Indian population that has grown to 1.13 billion people”. Initially, Trivitron will use 15 acres of land for manufacturing its products through Technology transfer arrangements and remaining 10 acres will be allotted to its JV Companies.