MicroPort Scientific India plans expansion of product portfolio
Mumbai: MicroPort Scientific India, an Indian arm of Shanghai-based medical device firm MicroPort Scientific Corporation on Wednesday said it is looking at expanding horizontally and vertically in terms of expansion across the country as well as product portfolios.
"We will be expanding horizontally and vertically in terms of expansion across the country as well as product portfolios.
"Our global leadership has very robust expansion plans for India. We have a firm commitment from the management to infuse investment required to achieve our fast sustainable growth," MicroPort Scientific India managing director Riyaz Desai said in a statement here.
The company provides medical solutions covering 10 major disciplines including interventional cardiology, orthopedics, endovascular, neurovascular, electrophysiology, diabetes and endocrine management, surgical management and others, it said.
The company has innovative TES (Target Eluting Stent) technology product FireHawk and it is eyeing at about 20 per cent market share in the stent business. Our TES suggest the healing time is lesser than other Drug Eluting Stents (DES), he said.
Commenting on the recent price regulation of cardio vascular stents by NPPA, Desai said, the company is completely aligned with government's mission of providing affordable healthcare.
"While many companies are being compelled by the government to offer their latest technologies, we are voluntarily going to the market and offering our best in class technology at the regulated pricing.
"This will have profound impact as more doctors and patients will opt for this technology and certainly can have better long term clinical outcomes.
"We have other product portfolios in various therapeutic areas like orthopedic, neurovascular, peripheral vascular and electrophysiology and will be launched in the country soon," Desai said.
The company's short term investment would be in people and education. In long term it is also exploring opportunities to have local manufacturing and partners with the government in 'Make in India' initiatives, he added.
MicroPort Scientific Corporation is a leading medical device company with business focussing on innovating, manufacturing, and marketing high-quality and high-end medical devices globally and its products currently approved for use in over 5,000 hospitals in 80 countries worldwide.
Under its global expansion programme, Microport has acquired OrthoRecon business of Wright Medical, USA and has made a strategic investment in Lombard Medical of UK.