May 20, 2008

India’s first medical tech park in TN

The first medical technology park in the country will be set up at Irungattukottai, near Chennai by Trivitron, one of India's medical technology companies, in collaboration with Aloka, a well known international company.
The park to be set up an investment of Rs 250 crore would be spread over an area of 23 acres was aimed to develop high quality, cost effective medical technology products suited to the needs of developing countries, Dr GSK Velu, managing director of Trivitron told reporters here.
The park would also enhance the accessibility and affordability of medical instruments to the rural mass, he said. It would first focus on domestic market and then on emerging markets with particular emphasis on South Asia, West Asia and African markets.
At present most of the medical instruments were imported as hospitals were hesitant to use products without a brand name. When all other related fields related to medical technology had grown in the country, it was time the country started manufacturing medical technology products, he said.
The park would be built on par with international manufacturing standards and the company was also exploring the possibility of converting the park into SEZ after acquiring another two acre land in the same location, Mr Velu said.
Trivitron would focus on manufacturing of medical equipment in the areas of critical care, cardiac care, imaging and routine laboratory diagnostics. For the initial phase, it would manufacture products like X-ray machines, ECG machines and stress test systems.
About a decade ago, China was importing medical equipments and now it was one of the world's largest manufacturers and exporters, Mr Velu said and added that similar growth was expected in India also.

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