Philips Electronics India Ltd plans to set up a manufacturing plant for CV (cardiovascular) and general X-ray system. The company also plans amalgamation of Alpha X-Ray Technology and Meditronics, acquired less than a year back, with itself, said Philips Electronics India CEO Murali Sivaraman. The move is expected to enhance value products with a competitive price band, which would help the company penetrate into tier-II and tier-III cities.
Sivaraman told FE, ?We plan to set up a manufacturing complex over the next 12 months to make CV and general X-ray systems. The company is looking to make products under the Philips brand name in the new complex. The move is aimed at making India the hub for value products while maintaining its leadership position in the healthcare equipment market by penetrating into the mid and smaller cities, where the real healthcare infrastructure creation is going to take place over the years.”
He said, “To increase its market share and to make small hospitals and healthcare providers accessible to its products, the company will facilitate raising funds from banks at the residual value for their own purpose, or to take on lease or pay per use models to push three-way partnership between the company, banks and customers.?
