Transasia-Erba Group forays into Brazil and Latin America with wholly owned subsidiary
Commits up to Rs. 100 crore investment with an initial investment of close to Rs. 25 crores in the subsidiary and the rest for a local, manufacturing plant acquisition.
- (1888PressRelease) January 09, 2020 - Transasia-Erba group, India's No. 1 In-vitro Diagnostic (IVD) player and among the leading global IVD players, today announced its foray into Brazil with the setting up of a wholly owned subsidiary in Nova Lima, north of the nation’s capital. The foray into Brazil marks the first step in its plan to enter and emerge as a significant player in the Latin American region. The new organization plans to sell a full range of blood and urine test automation solutions in clinical chemistry, hematology, hemostasis, immunoassay, urinalysis, diabetes, critical care and microbiology. The initial investment outlined for the new subsidiary is close to Rs. 25 crores. Another Rs. 50-70 crores has been earmarked for acquisition of a local manufacturing plant in Brazil to take advantage of the incentives offered for products made in Brazil. In-vitro diagnostics are tests done on samples such as blood or tissue that have been taken from the human body and can be used to monitor a person’s overall health to help cure, treat, or prevent diseases. The US$65 billion global IVD market is expected to grow at 4.75% CAGR to reach US$94 billion by 2025. Asia Pacific will be the fastest growing region with countries like China, Japan, India and Singapore among others driving that growth.
Commenting on the foray, Suresh Vazirani, Chairman & Managing Director, Transasia-Erba group, said, “Even though Brazil has one fifth of India’s population its IVD market is twice that of India which makes it a highly potential market. Its IVD market is similar to India which gave the confidence to choose that market and invest in it.” “Rising incomes and standards of living are anticipated to spark higher demand for quality medical care across Latin America. This is likely to be further fuelled by population growth, government insurance, newly insured patients and updated healthcare facilities. Brazil being one of the largest economies in the region, the foray marks the first step in our long-term plan to get a foothold in this region with high potential and characteristics similar to the India/other emerging markets,” he further added.
“We are very excited to be able to serve our customers and support our channel partners from within Brazil,” said Tarcisio Vilhena, Brazil Country Manager. “We have a dedicated team ready to support our customers with application and service expertise as well as sales and marketing support. From the simplest semi-automatic system to the impressive sophistication of our future NEXUS range, we are committed to help improve the lives of millions in Brazil through high quality, affordable automation.”, he concluded.
About Transasia Bio-Medicals Ltd.:
Founded in 1979, Transasia Bio-Medicals Ltd., India’s Leading In-vitro Diagnostic Company offers products and solutions in Biochemistry, Hematology, Coagulation, ESR, Immunology, Urinalysis, Critical Care, Diabetes Management, Microbiology and Molecular Diagnostics. It provides doctors and patients with reliable, affordable and innovative diagnostic systems, with 70,000+ installations across India. It has a network of 300 service engineers, 400+ sales and marketing team, 24 zonal offices and 350+ distributors. It is the first Indian company to manufacture and export blood analyzers and reagents, in the 1990s. Transasia’s indigenous research has resulted in development of state of the art, ‘Make in India’ products and technologies, enabling its products to be among the best in the world. All along its journey spanning four decades, Transasia has been recognized for its commitment to healthcare. It has been conferred ‘The Economic Times Best Brands 2019’ award, ‘India Medical Device - Export Company of the Year’ and the ‘Global Growth Company-2014’ award by the World Economic Forum among many others. Headquartered in Mumbai, Transasia is a part of the Transasia-Erba group which has footprint across USA, UK, Germany, Czech Republic, France, Italy, Russia and Turkey through various acquisitions and serves millions across 100 countries. Its’ production sites in India, Czech Republic and US and R&D centres in France, UK, India and Czech Republic form a hub for world-class, indigenous manufacturing. Do visit www.erbamannheim.com for details.
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