Financial Daily from THE HINDU group of publications
Thursday, May 25, 2006
Financial Daily from THE HINDU group of publications Thursday, May 25, 2006 |
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Corporate
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Outlook Poly Medicure to leverage US acquisition for expansion Our Bureau
New Delhi , May 24 Poly Medicure Ltd, manufacturer of medical devices and disposables, is on an expansion mode. The company is set to leverage its recent acquisition of a US-based company, US Safety Syringes, which gives it access to eight patents and two FDA approvals for safety medical devices and make an entry into the safety syringes segment. It is also in the process of setting up its fourth manufacturing unit in Haridwar, Uttaranchal, taking advantage of the incentives being provided by the State. To be commissioned by the end of the year, investment in the first phase of the project is slated to be around Rs 6 crore and Rs 7-8 crore in the second phase. Last month, Poly Medicure also tied up with the Apollo Hospitals Group to provide disposable medical equipment for all its hospitals. "Apart from this we are also focussing on providing disposables to health care programmes of State Governments such as Maharashtra, Rajasthan and Gujarat. Apart from corporate hospitals, we will also be targeting private nursing homes and will expand our sales force in the future," said Mr Himanshu Baid, Managing Director, Poly Medicure Ltd. In addition, the company is looking for an overseas strategic partner in Europe or the US, to receive know-how and subsequently serve as a sourcing base for the company, so that India could be used as a competitive production base for disposables.
More Stories on : Outlook | Medical & Surgical Equipments
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