New Initiative

Trivitron to Set up Medical Technology Park in Chennai

Chennai-based Trivitron Group of Companies announced the establishment of Medical Technology Park at SIPCOT Industrial Park, Irungattukottai, near Chennai. The company has signed three joint ventures with Japan-based Aloka Company Ltd, Biosystems of Japan and Brandon Medical of UK.

The Medical Technology Park, the first of its kind initiative in India, will be spread across 23 acres with an investment of Rs 250 crore in the first phase. "We are in the process of acquiring two acres of land more in the same location, in order to convert it to SEZ," said Dr GSK Velu, Managing Director, Trivitron Group of Companies.

Speaking on the occasion, Dr Velu said, "Though pharma and healthcare service sector is booming in India, medical technology is still import dependent." He added, "Our aim is to position India as an alternative viable low cost manufacturing hub in the global manufacturing map of medical technology products."

Trivitron will focus on manufacturing of medical equipment in the areas of critical care, cardiac care, imaging and routine laboratory diagnostics. "The price could be reduced by 40 per cent, if manufactured in India," Dr Velu claimed. All products manufactured will be approved by US FDA and CE and will be sold in emerging markets like South East Asia, Africa and Middle East apart from India.

Added Dr Velu, "The first round of production involving Aloka would start by January 2009."

EH News Bureau