Trivitron, Aloka ink JV, eyes 20 pc market share

By Staff
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Google Oneindia News

New Delhi, Sept 7 (UNI) Chennai-based Trivitron and Japan's Aloka today entered into a joint venture agreement to manufacture ultrasound equipments in the country and aim to achieve 20 per cent market share within two years.

The JV will embark on an initial investment of about Rs 50 crore by both the companies followed by further investments in due course.

''This joint venture is an extension of our seven years relationship with Trivitron. And together we aim to achieve 20 per cent market share in Indian Ultrasound Market within two years,'' Aloka President Yoshihiro Yoshikawa said.

The company is looking forward to set up its base for developing Embedded and Application Software for Ultrasound Systems in India, he said.

''The current market for ultrasound equipments in India is around Rs 500 crore and is growing at about 20 per cent per annum. Our partnership with Aloka, a global leader in ultrasound technology will give us an unbeatable edge and a first-mover advantage to tap the potential in this field,'' Trivitron Managing Director GSK Velu said.

Currently India meets over 90 per cent of its medical equipments requirements through imports.

Under the agreement, Aloka will also bring in their patented Technology for manufacturing Ultrasound Systems, Ultrasound Probes and related Ultrasound Accessories.

Apart from meeting the needs of the market in India, the products manufactured by the JV will be exported to several developing/developed countries across the world, a statement said.

Trivitron, one of the top 10 medical technology companies in India, operates in the field of Medical Equipment, Medical Devices, Clinical Diagnostic Equipment, Medical Consumables&disposables, Medical Software and Consultancy services.

UNI

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