Taiwan’s Apex Medical Corp is foraying into India to tap the growing healthcare market and plans to initially invest ₹100 crore to market ‘quality and affordable’ equipment to hospitals and nursing homes.

The $75-million company plans to launch its products through Apex Medical India in the field of respiratory therapy, such as asthma and sleep apnea, followed by surface support products like bubble mattresses for bed-ridden patients, and table-top sterilisation equipment for use by dentists, opthamologists, etc.

“Why we chose India as the first country in South Asia for our foray is because it has a huge population and a new government that is willing to make a big change,” Daniel Lee, CEO, Apex Medcial Corp, told reporters here on Wednesday.

The company, which has a range of about 100 products, said it had been looking for the “right time’ to invest in India, which has a healthcare market that is growing at 12-15 per cent a year, and was “excited” by Prime Minister Narendra Modi’s call for ‘Make in India’.

Asked if the company plans to manufacture equipment in India, Lee said initially it will bring in equipment here as there were “economies of scale” in Taiwan. “Once we know how ‘Make in India’ is taking off, we will also make here,” he said, adding the company has an open mind on every option, such as a joint venture or acquiring an Indian company.

Lee said the company invests 5 per cent of its annual revenue on research and development and its products are distributed through subsidiaries and partners in Europe, the US and other markets.

The medical equipment maker enters India at a time when the Modi government plans to reduce the country’s import dependence. At present, India spends ₹60,000 crore to import 70 per cent of its medical devices requirement. To boost local manufacture, the government is planning to set up two medical devices parks in Gujarat and Tamil Nadu.

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