Trivitron and Aloka sign JV
Trivitron group of companies, the largest Indian medical technology company and Aloka, the innovators in Ultrasound technology from Japan recently announced their joint venture agreement to manufacture cost effective, High Technology Ultrasound equipment in India to suit the needs of the developing countries. The Joint Venture will embark on an Initial investment of about 50 crores by both the companies followed by further investments in due course.
The investment pooled in by the two companies will be used for acquiring necessary Capital, Equipment and Infrastructure for setting up the manufacturing unit. Trivitron will additionally extend its current distribution network in India for Sales Application and Engineering support for the new products. Apart from meeting the needs of the Indian Market, the products manufactured by the JV will be exported to several developing/developed countries across the world.
As the part of the deal Aloka will also bring in their patented Technology for manufacturing Ultrasound Systems, Ultrasound Probes and related Ultrasound Accessories. The Training requirements for the manufacturing unit will be met through special training sessions provided in Japan and day to day supervision by Senior Japanese Engineers, based in India. Aloka is also planning to use Premier Institutions in India as Clinical Research and Product Development Sites for bringing the new innovative Ultrasound Systems in the years to come.
India currently meets over 90% of its medical equipments requirements through imports; But with the recent growth areas such as Electronics Manufacturing, Biotechnology Manufacturing, Mechanical Components Manufacturing, Pharma Manufacturing India can soon be the hub for indigenous medical technology. The Current market for Ultrasound equipments in India is around 500 Crores and is growing at an average CAGR of 20% per annum.
Trivitron MD receives Rajiv Gandhi Shiromani Award, 2007
In recognition for his outstanding contribution in the field of Diagnostic and Health care industry in India Dr. GSK Velu, Managing Director, Trivitron group of companies has been conferred with the ‘Rajiv Gandhi Shiromani Award,2007’.
The award was presented on the occasion of 63rd birth anniversary of the former Prime Minister late Rajiv Gandhi, to select individuals of the country in recognition of their outstanding contributions and achievements in the fields of industry, business and public life, administrative, social, educational and cultural services.
Dr.Velu, a Bio Medical Engineering Scholar from ‘BITS’, Pilani, acquired MBA from top Management school ‘Loyola Institute of Business Administration’, Chennai, and a Doctorate in Pharmacology, from IBAM, Kolkata.
He is also the recipient of the “Entrepreneur of the Year Award” given by Frost & Sullivan, Modern Medicare and GE Health Care for his remarkable achievements in the successful functioning of the Organization.
Fortis ventures into South India
The Fortis group recently announced their decision to buy 48% stake in Chennai-based Malar Hospital for around Rs 42 crore. This move will mark the group’s first entry in South India.
At present, Fortis has a network of 12 hospitals primarily in the north, and 16 satellite and heart command centres.
The acquisition w