Chennai: Trivitron Healthcare, a leading medical technology company of Indian origin, has announced a joint venture with the IMD group, Italy. The MOU was signed on Tuesday for the joint venture in the name of Kiran IMD X Ray Private Ltd, to design, develop and manufacture a variety of X-ray equipment and X-ray accessories based out of its facilities in Chennai and Mumbai in India and Bergamo in Italy.
Trivitron Healthcare holds 60% share while IMD group holds 40% share in the joint venture. The collaboration aims to reach Rs 100 crore revenue within three years of its operation with X Ray Monobloc, X Ray Generators, High Frequency X Ray Machines, Mobile and Full Room DR, Digital OPG and Mobile Cathlab manufacturing in India.
G S K Velu, founder and managing director, Trivitron Group, said, “This JV is in line with Trivitron’s philosophy of making state of the art technology accessible and affordable to the larger section of population.”
Ramesh Modi, CEO, Kiran Medical Systems, said, “This is an exciting moment for Kiran Medical Systems as we move up in our value chain to provide more comprehensive product line to our channel partners and customers across the globe. IMD and Kiran products are complimentary to each other and the JV will immensely benefit both companies.”
Aliberti, CEO, IMD Group, said, “Bringing Trivitron/Kiran and IMD’s expertise and network together will ensure more comprehensive product offerings to the focus markets in a most cost effective basis.”
Trivitron offers 360 degrees solution in laboratory medicine, imaging – ultrasound machine, critical and cardiac care, operating room, and ophthalmology along with providing expert consulting services. Trivitron’s subsidiary Kiran Medical Systems is a global leader in X-ray accessories and radiation protection apparels market space and exports its products to over 165 countries.
IMD group has been a pioneer in the X-ray space for over three decades with original innovation in X-ray instruments and accessories technology. Through its group companies IMD Generators, Intermedical and Technix, IMD group has been in the forefront of original X-ray technologies to manufacture X-ray equipments like high frequency X-ray machines, high-end C-arms, mobile and full room DRs (digital radiography), cath labs, dental OPG (orthopantomogram) etc and X-ray accessories like X-ray generators / X-ray monobloc etc.
This joint venture between Kiran Medical Systems and IMD ensures these high technology products will be now manufactured in India for making it accessible and affordable to larger section of population with special emphasis to emerging markets like South and South East Asia, Middle East and Africa, Eastern Europe and Latin America, according to Trivitron.
The JV was announced on Tuesday at medical technology fair — Arab Health 2015, being held from January 26 to 29 in Dubai, UAE.