HSBC Private Equity invests in Trivitron
Posted by Arun Uday on November 5, 2007
Announcing our first invetsment here since I joined. We have invested $11 million in Trivitron, a leading medical equipment manufacturer and distributor based in Chennai. Our co-investor in Trivitron is ePlanet Ventures, a leading US based VC (with strong operations in Asia as well) boasting of such blockbuster investments as Skype, Baidu and Focus Media. Healthcare as an industry in India is very much in its formative years and is set for obvious expansion in coming years. Medical equipment manufacturing in particular is completely a virgin territory since much of the equipment is currently being imported from outside. We believe it has the potential to ape the success of the pharma industry, which was in a similar stage a couple of decades back, when all important drugs were imported, but has since evolved into one of global stature. Trivitron is the leading domestic distributor of medical equipment in India outside of the top 3-4 large multinationals (GE, Simens etc) and is now setting up a medical technology park in collaboration with global leaders in this space. Therefore, backing a leader in an industry set to take off seemed like a compelling investment opportunity to us. Look forward to working with the Trivitron team to now make it happen.
