Updated on 9 November 2012
Has Trivitron yet looked at China, which is high growth market, as a market for investment and expansion?
We are not looking at China as a market for investment but for sourcing MNC technologies. Most of the developed market players have manufacturing / R&D set up in China.
When it comes to quality of the products, people have a notion that big multinationals offer high quality products with better solutions. What is your views on this?
Most of the MNCs manufacture their products in China, hence its again a notion which needs to be changed. In the absence of clear direction, fiscal incentives for import substitution, MNCs as of now has shown little or no interest in bringing substantial investments to India as they want to sell China Made products here wherein they have already made substantial investments in China due to compulsion and fiscal incentives. Med tech market as such has evolved more through import dependent and is moving toward localization. Brand is of utmost importance thus this notion because of MNCs brand building capability. Trivitron has been investing heavily on brand building and successfully established itself as the largest medical technology and is one of the top 3 or 4 player in almost all focused segments.
Of the range of products on offer from Trivitron, which are having large market potential and growth?
Cardiology, imaging diagnostics, laboratory diagnostics (IVD), ophthalmology, critical care and dental are major markets, which contribute almost 65 percent of total Indian medtech market size. Trivitron is present as one of the top /major player in all these segments.
What are your future plans?
Trivitron is scaling up its innovation and manufacturing operations through organic and inorganic means. Trivitron opened up an innovation center in IIT Madras with strategic partnership from Sree Chithra Tirunal Institute, Trivandrum, in order to look at innovative product concepts in the areas on cardiology, imaging sciences, critical care and ophthalmology. Trivitron is in the process of acquiring majority stake in some Indian/ European medical technology companies with strong innovation and manufacturing skills. Trivitron has already forged five manufacturing joint ventures (JVs), including Hitachi Aloka Japan Ultrasound and Color Dopplers, Biosystems Spain Diagnostics Reagents, Johnson Medical Sweden Modular OTs among others, and also owns manufacturing facilities for cardiac diagnostic instruments.
Factories are being constructed in Trivitron medical technology park and we are in talk with few top MNCs for manufacturing JVs to scale up manufacturing operations. Trivitron is also looking at taking substantial stake in a company that has the capability to become the most coveted contract manufacturing facility in India for US and Europe-based MNCs. We have also made a strategic investment in Kiran Medical System, a Mumbai-based radiation protection apparels and image enhancement product facility with innovative products rolling out of 70,000 sq ft space, exporting to over 160 countries. We also have another manufacturing facility at Pune, manufacturing X-ray and C arm with CE certifications. Moving forward, we will be manufacturing digital radiography and computing radiography as well as value end digital mammography in this facility.
Trivitron wants to be the torch bearer of the indigenization and local innovation/ manufacturing initiatives in the medical technology space as we as the largest medical technology company of Indian origin. This will do well to Indian citizens in terms of cost, access, local validation and clinical trials and suitability to our race and surroundings. In the next 10 years, most of the products in the medical technology space should be manufactured in China/ India or any other emerging market and hence we feel we can be the emerging market leading brand promoting affordable healthcare in the region with ear-to-the-ground approach and faster decision making compared to top MNCs with pre-dominat revenues and focus for the developed and matured markets that can afford high costs.