Project News Detail
| Project No : | 187657 |
|---|---|
| Project Title : | Plans To Exploring New Diagnostic Segments Project In Telangana |
| Company Name : | TransAsia Group |
| Project Detail : | Transasia Bio-Medicals, part of the Transasia-Erba Group, and a Made in India clinical diagnostic equipment company, is expanding its operations in India and overseas, besides exploring new diagnostic segments backed by a series of acquisitions that it has made globally. The company which has four manufacturing units in India and two overseas is looking at more greenfield units in south including Telangana, where it finds healthcare industry is evolved and growing The company offers products and solutions in the areas of blood banking, clinical chemistry, critical care, diabetes management, hematology, immunology, microbiology, molecular diagnostics and urinalysis. The company was the first Indian company to manufacture and export blood analysers and reagents during early 1990s. The company today serves over 20,000 laboratories in India Suresh Vazirani, CMD, Transasia-Erba Group, told Telangana Today, “We are aiming to be a total solutions provider in the diagnostic equipment segment. We are adding more products. New products mean new technologies. To acquire new technologies, we have acquired 14 companies in the US and Europe in the last one decade. We are developing hematology products, complete line of biochemistry, microbiology products and several critical solutions. In the next 2-3 years, we want to have a complete product range in the all the categories we are present. We will roll out new molecular testing products soon-particularly for diagnosing TB. Genomic tests space itself is evolving faster. Our goal is to make these tests affordable He added, “We have six units in total. We need more for our future growth. The four units in India cater to both domestic as well as export markets. We export to about 100 countries including Latin America, Europe, Middle East, Africa and Asia. In India, we make biochemistry analysers and reagents while in Europe we make chemistry, microbiology and hematology products. Our US unit makes immunology products. For India units, exports account for 25 per cent of the production. As of now, biochemistry, hematology and immunology contribute to 75 per cent of our overall sales Growth strategy The company is looking at foraying into new overseas geographic markets such as Brazil and Russia through greenfield manufacturing units to roll out affordable solutions in those markets. In India, the company is also coming out with a unit at Visakhapatnam, AP Vazirani informed that the company has so far invested Rs 1,500 crore for acquisition of technology companies, Rs 500 crore for R&D and product development. The company operates five R&D centres in India. It also focuses on after-sales service Transasia clocked Rs 1,300 crore of revenues last year and is expecting about 18 per cent jump in the current fiscal. In 2020-21, the growth could be even more as more new products will be rolled out Alastair McLeod, VP-Global Marketing, Erba Group, UK, said, “India is fast evolving in the diagnostics space. Transasia today has got new technologies that will not help cater to the domestic markets but also export markets. India can make volumes of products yet offer high quality and well-designed products unlike China. Companies such as Transasia can serve emerging markets which lack quality solutions or products Telangana market Vazirani said, “Telangana is going to be a key market for us. The State government’s health schemes are encouraging. We want to explore opportunities in Telangana to set up a new unit. We are evaluating Hyderabad and surrounding districts. Lifesciences, clinical trials and healthcare sectors are evolved in Hyderabad and is thus an attractive market for us Amit Sehgal, president, Sales & Marketing, Transasia Bio-Medicals, said, “Telangana contributes to about 10 per cent of the national sales and the market is growing a CAGR of 21 per cent well above the national average of 14-16 per cent. We are deeply connected with private and government healthcare institutions |
| Project Location : | Hyderabad - Telangana - India |
| Project Estimation : | Refer Document |
| Status : | Announced |