Chennai, Oct 30 (UNI) Leading medical service provider Trivitron India, today announced that it would set up a Medical Technology Park with an investment of Rs 250 crore at Sriperumbudur near here.
The proposed technology park, the first of its kind initiative would promote indigenisation of medical technology in India, Trivitron Managing Director G S K Velu told newspersons here.
''We have requested the Tamil Nadu Government to allot 25 acres of land preferably near Sriperumbudur to start this project,'' he said adding the acquisation of the land will be finalised within a month.
The medical technolgoy park was expected to start functioning from next year, he said.
Mr Velu claimed that the proposed medical technology park would be the first step towards indigenisation of medical equipment manufacturing in India, thereby making the country, one of the leaders among other medical equipment manufacturers worldwide.
He pointed out that of the total investment, 45 crore would be invested by HSBC Asian Ventures and ePlanet, a global venture capital and private equity firm, and the balance Rs 105 would be mobilised through internal approvals from banks and JV partnership.
Mr Velu said the Indian medical technology industry accounts for an expenditure of US Dollar 2.7 billion with US Dollar 2.4 billion accruing towards imports alone.
''Trivitron will provide a platform for our global partners entry into India, to set up manufacturing facilities and distribution centres for medical equipment to serve both the local and global markets,'' he informed.