BPL healthcare unveils growth strategy
Bangalore, May 9 (UNI) BPL today unveiled a new strategy for its healthcare business division to take its revenue to over Rs 500 crore by 2010.
With an estimated market share of above 40 per cent in ECG recorders and defibrillators and significant share in other medical device categories, BPL intended to capitalise on its brand, reach and long standing presence in the healthcare fraternity to grow this business exponentially, a company release here said.
The medical devices market size in India was currently estimated at around Rs 5,000 crore, a sizeable amount of which was catered to by imports, BPL said, adding that it aimed at targetting this market aggresively.
Rejecting recent media reports about BPL's planned divestiture of a major stake in its healthcare division, the BPL management clarified that ''we have identified healthcare as a priority area for value creation. Our plans entail entry into the rapidly growing vertical segments of the market, which include selected areas within critical care, home health care, dentistry and others, besides our current core areas of focus - namely cardiology, gynaecology and patient monitoring systems.'' These initiatives would be supported by selective investments in manufacturing, the release said, adding that capacity had fallen into place to produce oxygen concentrators and the company would take up manufacture of ultra sound scanners and multi-parameter patient monitors shortly.
BPL had formal technology tie-ups with global industry majors for gynaecology/patient monitoring systems. Negotiations were on with others for introducing critical care and home healthcare products in the country shortly, the release said.
UNI VK GD HVB1820