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Medical technology company Trivitron Healthcare has formed a joint venture with Italy-based DiaSorin group to enter the immuno diagnostics market.
Immuno diagnostics involves lab detection and testing of infectious diseases (viral and bacterial) and vitamin D deficiency at the minute, nano gram level.
The JV company will be called DiaSorin Trivitron Healthcare Pvt Ltd with Trivitron holding a 49 per cent stake. Currently, Trivitron is a big player in the imaging and routine diagnostics segments.
The immuno diagnostic market in the country is estimated at Rs 700 crore. Abbott, Roche and Siemens are the big players. But their testing devices are mainly imported. While Trivitron will start with imports from January, it eventually wants to manufacture the device at its technology park near Chennai.
“Diasorin is already present in the Indian market with Rs 20 crore worth of business. With the JV, we hope to touch Rs 100 crore in two years,” said G.S.K. Velu, Managing Director, Trivitron.
Diasorin has over 25 years of expertise in the immuno diagnostics market. It has manufacturing facilities in Europe, South Africa and US.
Trivitron’s other manufacturing joint ventures are with Japanese company Hitachi for ultrasound machines and with Spain-based Biosystems for chemistry reagents. The company recently bagged funding of Rs 400 crore from Fidelity Growth Partners.
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