HSBC Pvt Equity Asia Ltd, ePlanet invest in Trivitron
HSBC Private Equity Asia Limited and ePlanet, a global venture capital firm, have invested $11 million (about Rs 44 crore) in medical technology firm Trivitron.
By PTI |
CHENNAI: HSBC Private Equity Asia Limited and ePlanet, a global venture capital firm, have invested $11 million (about Rs 44 crore) in medical technology firm Trivitron.
"The investment would be used for the company's expansion of manufacturing and business plans," Trivitron's Managing Director G S K Velu told reporters here.
The company would set up a medical technology park near Chennai that would entail a total cost of Rs 250-crore, and for which it had sought 20 acres of land from the Tamil Nadu government, he said.
The park would be the first step towards indigenisation of medical equipment manufacturing in India, he said adding that the Indian Medical Technology industry accounted for 2.7 billion US dollars, of which 2.4 billion dollars came from imports.
The company expects a revenue of Rs 1,000 crore by 2010.
"The investment would be used for the company's expansion of manufacturing and business plans," Trivitron's Managing Director G S K Velu told reporters here.
The company would set up a medical technology park near Chennai that would entail a total cost of Rs 250-crore, and for which it had sought 20 acres of land from the Tamil Nadu government, he said.
The park would be the first step towards indigenisation of medical equipment manufacturing in India, he said adding that the Indian Medical Technology industry accounted for 2.7 billion US dollars, of which 2.4 billion dollars came from imports.
The company expects a revenue of Rs 1,000 crore by 2010.
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