Microtek aims to cross Rs 100 cr turnover in health sector by end of current financial year
Aims big for healthcare market in India
Microtek, a renowned player in the power product market of India is planning to further consolidate its position in the healthcare market, a segment it forayed into last year. The company is expecting to cross a turnover of Rs 100 crore in the healthcare segment by the end of the current financial year.
The company entered the burgeoning healthcare market of India with the manufacturing of products including blood pressure monitors, oximeters, and thermometers, both digital and infrared. To meet the growing demand for oxygen concentrators, it has also begun manufacturing Made in India oxygen concentrators last year.
“We have set up a manufacturing plant for healthcare products in Vishakhapatnam. We started producing oxygen concentrators in August 2021. The response from the market has been overwhelming. The Oil and Natural Gas Corporation Limited (ONGC) alone ordered 10,000 oxygen concentrators that we delivered by the end of September 2021. We plan to expand our portfolio of healthcare products with the manufacturing of blood glucose monitors, nebulisers, dialysis machines, and ultrasound monitors besides other products,” said Subodh Gupta, CMD, Microtek International.
Microtek is holding talks with the government and private entities across the world for technology transfer that will allow them to manufacture healthcare products in their respective markets. The company is looking to set up an offshore R&D centre in Ireland, adding to the similar facilities it has presently, in Baddi (Himachal Pradesh), Vishakhapatnam (Andhra Pradesh) and Taiwan.
“A robust healthcare system is the backbone of any progressive country. The significance of the sector has grown manifolds post the outbreak of the pandemic. We are ready to play a critical role in the growth of the healthcare market. Our vision is to manufacture world-class healthcare products and to emerge as a dominant player in the healthcare products domain,” added Saurabh Gupta, Deputy MD, Microtek International.
