27 Nov 2012, BioSpectrum Bureau , BioSpectrum
Bangalore: Indian company Trivitron Healthcare acquired Finland-based Ani Labsystem, a leader in the in vitro diagnostics space with unique global position in the fast growing neonatal screening and cardiac biomarkers screening areas, with an investment of $20.5 million. Ani Labsystems is a group of companies that consist of Ani Biotech, Ani Labsystems, Biopoint and K3.
Trivitron is acquiring all the four group companies and the merger will be known as Labsystems Diagnostics OY- A Trivitron Group Company. This global joint venture brings forth access to global manufacturing facility, a first-of-its-kind for an Indian medical technology company to go abroad for acquisition. While neonatal screening, cardiac biomarkers, gastro and respiratory diagnostics kits will continue to be manufactured in Finland, the infectious diseases and women's health manufacturing will be shifted to The Trivitron Medical Technology Park based in Chennai.
With this acquisition, Trivitron has made its way into point-of-care diagnostics, immuno diagnostics and molecular diagnostics, the three of the fastest growing areas in the in vitro diagnostics field. Trivitron is already manufacturing hematology and clinical chemistry kits from their facilities.
Hence, this will make Trivitron a global in vitro diagnostic company with capability of manufacturing variety of diagnostics kits covering all major areas of the field.
In Chennai, Trivitron Healthcare has established South Asia's first state-of-art medical technology manufacturing facility -The Trivitron Medical Technology Park and Trivitron's innovation center at the IIT Madras. The Trivitron Medical Technology Park enables cost effective manufacturing as per international standard in India.
"The factory based in India will enable Trivitron's access to new infectious disease testing products for emerging markets and offer their customers new value oriented product lines in South Asia, South East Asia, Middle East and Africa," says Dr G S K Velu, founder and managing director of Trivitron Healthcare.
"With a $20.5 million (€15.8 million) foreign direct investment into Finland, the financial position of Ani Labsystems will be clearly strengthened. Ani Labsystems is the manufacturer of infectious disease laboratory diagnostics and neonatal screening since 30 years and Ani Biotech, the pioneering innovator and producer of home and point-of-care tests for cardiac, fertility, gastroenterology and infectious disease biomarkers for 25 years," said President Mika Saramaki of Ani Labsystems.
The strategic partnership will not change the existing respective distribution relationships but allows both companies to better serve their customers and provide them the products, support and training that they need in their markets. Ani Labsystems and Ani Biotech will continue to produce the highest quality products in the Helsinki Vantaa factory in Finland factory while Trivitron will build a new factory focused on emerging markets' value products in India.