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Polymed eyes region pie

- Medical device maker mulls foray into rural areas

Guwahati, June 19: New Delhi-based Poly Medicure Limited (Polymed), a leading manufacturer of medical devices and disposable items, has charted out a growth road map for the Northeast with greater presence in the region’s leading hospitals as its focus area.

The company, which started operations in the country in 1997, now enjoys a turnover of over Rs 300 crore.

“Polymed plans to expand in the Northeast and cover at least 75 per cent of the major hospitals to start with. We have 75 products and plan to launch another 30 this fiscal for which we have invested Rs 30 crore on a plant in Jaipur while another Rs 35 crore is earmarked for the second phase,” Hemant Bhalla, associate vice-president (marketing and sales), Polymed, told reporters here today.

Of the 30, two products, intravenous cannula with a patented needle technology (Adva) and a needleless Clave connector were launched here today. A majority of the products come under verticals such as anaesthesia and haemodialysis.

“The USP of the cannula with Adva technology is that it helps prevent the spread of HIV and hepatitis while the needle-less Clave connector helps protect a patient from hospital acquired infections,” Bhalla said.

Incidence of such healthcare associated/hospital acquired infections in the country ranges between 4.4 and 83 per cent according to recent data. A total of 10 per cent people die in the country because of such infections.

The medical device maker has eight manufacturing plants, including one in China. At least 75 per cent of its business is conducted across 90 countries in the form of exports.

“However, we plan to focus on the domestic market which is growing at 40 per cent,” he said.

The company will also explore possibilities of penetration in the rural areas of the Northeast.

“We will have to first explore the potential areas before operating in the rural areas,” Bhalla said.

Polymed has a market share of eight to 10 per cent in the Northeast. “We plan to take this up to 20 per cent in a year’s time through bolstering our dealer network, making hospital staff aware of our new products and strengthening manpower,” he added.

The company also held a meeting for dealers here today.

“We have also held an awareness programme on our new products in one of the leading hospitals,” he said.

In the Northeast, Polymed’s annual turnover from institutional and trade businesses would amount to about Rs 5 crore. “Apart from Assam, the potential growth areas are Meghalaya and Manipur,” said Geet Barthakur, area business manager (Northeast), Polymed.