Diasorin inks deal with Trivitron Healthcare for Indian market
Wednesday, August 1, 2012
DiaSorin, a global developer and manufacturer of reagents, continues its expansion plan in Asia through the establishment of a joint venture company with local partner Trivitron Healthcare, an Indian medical technology company with solutions in the in vitro diagnostic (IVD) business and focused on manufacturing, innovation, distribution and best-in-class after sales support.
The Trivitron Group is among the top three Indian groups operating in the medical devices industry, according to DiaSorin, with an extensive experience in the IVD market acquired through several long term cooperations with multinational companies.
DiaSorin Group and Trivitron Group formed the limited liability company DiaSorin Trivitron Healthcare Private, located in Chennai, India, in which the parties have respectively 51% and 49% and will directly operate in the Indian diagnostics market.
The industrial plan of the newly established company, entirely funded by DiaSorin and Trivitron, will allow DiaSorin to directly enter the Indian IVD market, estimated to be around $491.8 million and with a growth of 15% each year, starting from the current on-going vitamin D business and extending it to the Liaison XL, Murex and molecular diagnostics products.
“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,” said Carlo Rosa, CEO of DiaSorin Group. “By combining the quality of DiaSorin systems and tests to the 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.”