Italy's DiaSorin to enter the Indian market in a JV with Trivitron Healthcare
DiaSorin makes its India foray in a joint venture with Trivitron Healthcare.
New Delhi, July 30, 2012: The Italian medical diagnostics major DiaSorin has signed a joint venture with Trivitron Healthcare to foray in the Indian market. The vitro diagnostics market in India is currently worth 400 million euro ($494.80 million) and is expected to grow at 15 per cent each year, DiaSorin said in a statement.
"The JV agreement with Trivitron is fundamental for the success of DiaSorin Group in an important market like India, and represents an important pillar of the current and future expansion strategy of DiaSorin Group in Asia Pacific," said Carlo Rosa, CEO of DiaSorin Group.
“The joint venture with DiaSorin is an important milestone for Trivitron to achieve market leadership position in the Indian IVD segment. We are confident that the venture will provide unique positioning for DiaSorin and Trivitron in Indian IVD segment,” added Dr. G.S.K Velu, Founder and MD of Trivitron.
With operations in markets like Belgium, France, Spain, Mexico, Germany and China, DiaSorin supplies its customers with equipment for diagnosis in test tubes known as ‘in vitro’.
Based out of Chennai, India, the new company DiaSorin Trivitron Healthcare Private Limited will have a 51 per cent holding of the Italian company and the rest will be held by the Indian partner.