Financial Daily from THE HINDU group of publications
Monday, Apr 25, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 25, 2005 |
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Alliances & Joint Ventures UK's Randox Labs in talks with hospital chain for marketing tie-up Our Bureau
Bangalore , April 24 RANDOX Laboratories, a global clinical diagnostic equipment manufacturing company, is in talks with an Indian hospital chain for the distribution and marketing of its high-end products. The tie-up will be a sequel to the launch of its manufacturing facility in Bangalore.The UK-based company opened its sales office in Mumbai three years ago to market its products and with the Indian market having a Rs 850-crore sales potential, Randox decided to set up its own production facility. Talking to reporters after a addressing a session on `Bio-partnering-Advantage India' at the Bangalore Bio 2005 meet here on Sunday, Ms Loma Lawrence, Business Development Manager (R&D and Manufacturing), said an agreement would be signed with the hospital chain in three months. However, she declined to name the chain. To a question if it was Apollo Hospitals, Ms Lawrence said, "I can't confirm or deny." Ms Lawrence, who stood in for the company's Managing Director, Mr Peter Fitzgerald, said Randox is focusing on India as a key hub to emerge as one of the largest players in the clinical diagnostic product market. Randox develops, manufactures and markets clinical diagnostic products for laboratory medicines and its core product and services are based on bio-chip array technology, clinical chemistry automation systems and environmental diagnostic systems. Elaborating on the company's plans, Mr Sreeram Gopal, General Manager, said the Bangalore facility would be set up by middle of next year. The facility will have 45 professionals to support its R&D and manufacturing activities. Currently, Randox has a turnover of Rs 20 crore and hopes to hit the Rs 100-crore mark in five years.
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