DiaSorin Enters Indian IVD Market
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By LabMedica International staff writers Posted on 01 Aug 2012 |
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DiaSorin (Saluggia, Italy) continues its expansion plan in Asia through the establishment of a Joint Venture Company (JV) with local partner Trivitron Healthcare (Chennai, India), an Indian medical technology company focused on manufacturing and distribution, with solutions in the in vitro diagnostics business.
DiaSorin has signed a joint venture (JV) with Trivitron Healthcare to enter India's EUR 400 million IVD market. Financial terms were not available.
In accordance with the JV Agreement, DiaSorin Group and Trivitron Group formed the limited liability company dubbed DiaSorin Trivitron Healthcare Private Ltd., headquarted in Chennai, in which the companies have 51% and 49% share respectively. It will directly operate in the Indian diagnostics market.
Device and diagnostics companies have known for some time that they can make better progress in India, which is the world's second fastest growing IVD market after China, by joining forces with a local partner.
Carlo Rosa, CEO of DiaSorin Group, commented, "The JV agreement with Trivitron is really important for the success of DiaSorin Group in a such relevant market as India, and represents an important pillar of the current and future expansion strategy of DiaSorin Group in Asia Pacific. [….] By combining the quality of DiaSorin systems and tests to Trivitron’s extensive knowledge of the Indian market, I’m confident that India will represent another important leg of revenues for us in the Asian region."
DiaSorin is active internationally in the market for in vitro diagnostics and immunodiagnostics. It develops, on an ongoing basis, a vast and innovative line of products that are used in analysis laboratories at universities, hospitals, and private testing facilities.
Trivitron is a global medical technology company of Indian origin focused on manufacturing, innovation, and distribution. The key focus segments include cardiology & implantable devices, imaging sciences (IVD), diagnostics, critical life support solutions (CLSS), and ophthalmology and dental technologies.
Related Links:
DiaSorin
Trivitron Healthcare
DiaSorin has signed a joint venture (JV) with Trivitron Healthcare to enter India's EUR 400 million IVD market. Financial terms were not available.
In accordance with the JV Agreement, DiaSorin Group and Trivitron Group formed the limited liability company dubbed DiaSorin Trivitron Healthcare Private Ltd., headquarted in Chennai, in which the companies have 51% and 49% share respectively. It will directly operate in the Indian diagnostics market.
Device and diagnostics companies have known for some time that they can make better progress in India, which is the world's second fastest growing IVD market after China, by joining forces with a local partner.
Carlo Rosa, CEO of DiaSorin Group, commented, "The JV agreement with Trivitron is really important for the success of DiaSorin Group in a such relevant market as India, and represents an important pillar of the current and future expansion strategy of DiaSorin Group in Asia Pacific. [….] By combining the quality of DiaSorin systems and tests to Trivitron’s extensive knowledge of the Indian market, I’m confident that India will represent another important leg of revenues for us in the Asian region."
DiaSorin is active internationally in the market for in vitro diagnostics and immunodiagnostics. It develops, on an ongoing basis, a vast and innovative line of products that are used in analysis laboratories at universities, hospitals, and private testing facilities.
Trivitron is a global medical technology company of Indian origin focused on manufacturing, innovation, and distribution. The key focus segments include cardiology & implantable devices, imaging sciences (IVD), diagnostics, critical life support solutions (CLSS), and ophthalmology and dental technologies.
Related Links:
DiaSorin
Trivitron Healthcare
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