Trivitron Group, one of India's medical technology companies in collaboration with Aloka, a well known international company will set up medical technology park at Irungattukottai, near Chennai
The park will be set up an investment of Rs.250 crore, of which Rs.170 crore will be invested by Trivitron, Rs.45 crore has been funded by HSBC Private Equity and venture capital firm ePlanet Ventures and the balance will be raised through internal accruals. An amount of Rs.80 crore will be financed through various joint ventures.
Trivitron has already signed three joint ventures with Aloka, Japan, which holds a majority stake of 60 per cent in the JV, Biosystems, Spain, which holds a 40 per cent stake and the balance is held by Trivitron.
The park will be spread over an area of 23 acres of land and will focus on manufacturing of medical equipment in the areas of critical care, cardiac care, imaging and routine laboratory diagnostics. For the initial phase, it will manufacture products like X-ray machines, ECG machines and stress test systems.
Work on the park is likely to begin by July 2008 and is expected to start production by January 2009. |