Trivitron forms Joint venture with Vision Engg

Pune: Medical technology provider Trivitron has formed a 51:49 joint venture with the Pune-based Vision Engineering, an x-ray machine manufacturing company.

Dr G.S.K. Velu, Managing Director, Trivitron, told newspersons that the company would be spending Rs 10 crore for modernising and expanding the two manufacturing facilities of Vision Engineering located at Tathawade and Pimpri in Pune.

The medical and industrial x-ray machines manufactured from these facilities, which have been awarded CE certification, would be marketed under the brand name of Trivitron Pride in the domestic, Middle East, Africa, South and South-East Asia markets.

Vision Engineering has been manufacturing x-ray machines on OEM basis for multinational companies and after the agreement would continue to do so for other brands also, he said. Dr Velu said it was also setting up a new facility in Pune, which would act as a hub for medical products.

The facility would be spread over five acres of land and is expected to be completed within 15 months. He, however, pointed out that the location is yet to be finalised. He said the hub is being developed on the lines of the hub in Sriperumbadur near Chennai, which is spread over 25 acres.

He said the Pune facility would focus on manufacturing intensive care and infant care products such as infant incubators, warmers, ventilators, infusion pumps, syringe pumps, oxygen concentrators, anesthesia ventilators.

He said the products manufactured from the Pune facility would also target emerging marketsand would be branded under the Trivitron Pride series.

Currently, it has about 15 products in these categories and intends to add 25 more within the next three years.

Dr Velu said Trivitron was in talks with five companies for joint venture agreements and these included companies in the areas of molecular diagnostics, intensive care, imaging and diagnostic medicines. The company does not plan to come out with an IPO in the near future and would be looking at an IPO only in 2011.

The company had received funding of $12 million from venture capitalists a year ago. This would be utilised till 2009 after which it would look at a second round of funding.