Chennai: The Rs150
crore turnover Trivitron Medical Systems Pvt Ltd, a Chennai-based medical equipment
manufacturer has received $11 million funding from ePlanet a venture capital and
private equity firm and a wholly owned subsidiary of The HSBC Asian Ventures Fund
2 Limited, for an undisclosed stake change.
parties to the deal declined to reveal the stake percentage taken in Trivitron
Medical Systems plans to use the funds in manufacturing and also for setting up
a medical technology park.
park is being planned near Chennai is expected to cost around Rs250 crore.
to Dr G S K Velu, managing director, the domestic medical technology is estimated
to be in the region of $2.7 billion of which around $2.4 billion worth of equipments
proposed medical technology park would enable localisation of many medical equipment,
Indian healthcare sector has also seen a progressive increase in investments in
infrastructure and facilities, especially hi-tech medical devices.
has made the medical device sector as one of the most promising markets in India,
to him, the company has mobilized Rs105 crore from internal accruals and bank
debt. The company has also raised around Rs100 crore from other business partners
for the medical technology park.