Published Date : Sep 08, 2015
Transasia Bio Medicals is India’s largest manufacturer of medical products and devices. Lately, Transasia Bio Medicals planned to go for an IPO to generate more funds for the growth of the medical sector in coming two years. Suresh Vazirani founded the company in 1979 and currently it holds an annual revenue of Rs. 1,000 crore. According to him, the company plans to develop itself further in coming 12 to 24 months with an aim to develop India’s medical device sector. The demand for various medical devices and products is growing rapidly. With an intention of raising capital, Vazirani plans to go public and meet the growing demand of medical devices.
Transasia Bio Medicals is a Mumbai-based company, offering a wide variety of medical devices and services across many regions of India. The company covers medical sectors such as hematology, biochemistry, critical care, diabetes management, and immunology. The company has its manufacturing plants at three locations namely, Daman, Baddi, and Mumbai. Along with different regions within India, Transasia Bio Medicals serve many other locations outside India. The market for Transasia Bio Medicals is growing rapidly in India. At present, there are a few Indian companies listed in the Indian stock market. Some of the companies are Poly Medicure, Optoi Cirtuits, and Centenial Surgical Suture.
The domestic medical devices market is amounted at $6.8 billion, out of which, only 1/3rd is locally manufactured. India exports medical products and devices worth $1 billion. The government is not planning to normalize the prices of medical devices and products such as medicines. In order to fuel the medical devices market, the government is planning to frame a comprehensive policy. According to the Boston Consulting Group, an association of the Indian industry, many companies such as Polymed, GE, and Terumo Penpol, had planned to invest in medical devices for future growth