Transasia Bio-Medicals, the largest Indian manufacturer of medical devices, plans to go for an initial public offering (IPO) in the next 12-24 months to fund growth. The company, with annual revenue of Rs 1,000 crore, is promoted by Suresh Vazirani who founded it in 1979.
The Mumbai-headquartered firm offers gamut of products and services across sectors such as biochemistry, hematology, immunology, critical care and diabetes management. It has three manufacturing plants, at Daman, Mumbai and Baddi. Vazirani said operations are profitable, with business growing at 25 per cent annually.
Transasia also has a unit in Germany, ERBA Mannheim GmbH Group, through which it has made a series of acquisitions in countries including the Czech Republic, Russia, Germany, France, Italy, Mexico and the US. Most of these were in the past six to seven years. Vazirani said the company would focus on emerging markets in Asia, Africa and Latin America.
The domestic medical devices market is estimated at $6.8 billion, but only one-third of it is locally manufactured. India also exports medical devices worth nearly $1 billion. The government recently said it would not regulate the prices of medical devices like medicines. It is planning to formulate a comprehensive policy to fuel growth of the medical devices sector.
