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Neusoft Inks Joint Venture with Trivitron in a US$5 Million Investment for Medical Equipment Unit in India

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Neusoft Inks Joint Venture with Trivitron in a US$5 Million Investment for Medical Equipment Unit in India www.asiabiotech.com Industry Watch India Neusoft Inks Joint Venture with Trivitron in a US$5 Million Investment for Medical Equipment Unit in India he Neusoft group, China’s largest medical technology solutions provider with a turnover of US$700 million, is set to enter into a joint venture (JV) with the Chennai, TIndia-based Trivitron group by establishing a medical equipment manufacturing facility in Bangalore, India. The JV will earmark an initial investment of US$5 million, and may scale it up to US$25 million over a period of 4 years. The manufacturing facility is initially expected to offer employment for over 200 people, eventually accommodating 1000 people in the next 3 years. The JV will be the first of its kind in India, and the new entity plans to manufacture products and accessories such as linear accelerators, laser imagers, bioanalyzers, and picture archiving communication systems (PACS) solutions once it becomes operational. The Neusoft-Trivitron JV is considering setting up its manufacturing facility in Tamil Nadu, Maharashtra, Karnataka, or Delhi. Neusoft has already established a direct service base in Bangalore, in association with Trivitron, for its computed tomography (CT) and magnetic resonance imaging (MRI) systems, and intends to expand this facility to other locations in the country. Zheng Quanlu, President of Neusoft Medical Systems Co. Ltd., said, “India is the most important market for Neusoft, and we are looking at tapping the talent base available in India to set up Neusoft's second manufacturing base outside China.” He further added, “Neusoft is used to adhering to the strictest quality standards similar to Siemens and GE, who also have their manufacturing base in China; and, moreover, Philips and Neusoft have set up their joint venture in China for manufacturing CT/MRI for their global market. Our production facility here will reduce the cost of medical equipments in India, thereby bringing down the cost of healthcare substantially.” Dr G.S.K. Velu, Managing Director of the Trivitron Group of Companies, said, “The large number of healthcare facilities being set up in the country and the growth of medical insurance are bound to propel the need for world-class and yet affordable medical technologies.” He averred, “Our partnership with Neusoft, a global leader in this field, will give us an unbeatable edge and a first-mover advantage in this field.” The Neusoft-Trivitron JV is looking at achieving an annual turnover of over Rs 100 crore (US$21.5 million) by 2007. Dr Velu said, “Neusoft has internationally installed more than 800 CTs and 200 MRIs across the globe, and also has established a strong after-sales service infrastructure across India through Trivitron, which give us the reach and the ability to service the Indian medical equipment market well.” APBN • Vol. 10 • No. 15 • 2006 819 www.asiabiotech.com Industry Watch About Neusoft Neusoft is a specialized vendor of solutions as well as digital products and services, with its expertise in software technologies. The company has established a Neusoft-featured business model, which includes an integration of software and industry applications, a combination of software and digitalized products, and the cultivation of talent in software and consultation services. About Trivitron Trivitron specializes in a comprehensive range of medical device solutions that cover the fields of imaging, cardiology, nephrology, critical care, orthopedics, anesthesiology, intensive care, obstetrics and gynecology, radiology, urology, ophthalmology, gastroenterology, microbiology, biochemistry, hematology, immunology, molecular biology, blood banking, surgery, as well as home care and geriatrics. The company’s main focus is to serve Indian markets by identifying their requirements, providing them with a host of international brands and indigenous options to choose from, and aiding them to obtain maximum value out of these brands through excellent service support and continuous medical knowledge initiatives. Since its inception, Trivitron has grown at a steady pace to become one of the top five medical technology companies in India. Contact Details: Neusoft Group Ltd. Address: Neusoft Park, Hun Nan Industrial Area New & High-Tech Development Zone Shenyang 110179, PRC Tel: +86 024 2378300 Fax: +86 24 23782700 Email: [email protected] URL: www.neusoft.com Trivitron Abhiramapuram Address: 15, IVth Street, Chennai 600 018 India Tel: +91 44 2498 5050 Fax: +91 44 2498 5757 Email: [email protected] URL: www.trivitron.com 820 APBN • Vol. 10 • No. 15 • 2006.
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