Private equity backed Trivitron Medical Systems Pvt Ltd has acquired Pune-based X-ray machine manufacturing company, Vision Engineering Pvt Ltd. The acquisition of Vision Engineering, including the modernisation expenses would come to over Rs 10 crore, reports
Hindu BusinessLine. Trivitron, a Chennai-based diagnostic equipment company, had last year raised funding of $11 million (Rs 45 crore) from HSBC Private Equity and venture capital firm ePlanet Ventures. Vision Engineering was previously known as Siddalakshmi Engineering.
Trivitron Medical Systems has been consolidating its position in the space by entering into various alliances and joint ventures. It raised funds primarily for these activities. Trivitron has already formed three joint ventures with Aloka from Japan, Biosystems of Spain and Brandon Medical of the UK. While it holds a majority stake in its joint venture with Biosystems and Brandon Medical, it holds a 40% stake in its JV with Aloka.
Along with these three partners, Trivitron is setting up a medical technology park. A joint venture investment of Rs 250 crore ($60 million) would be made to set up the park, which would stretch over an area of 23 acres in Irugattukottai, Chennai. While Trivitron would invest Rs 170
crore ($42 million), the remaining amount would be invested by the three joint venture partners.