Australia based Coefficient System has tied up with Chennai based Vectra System to form a joint venture company, Medical Resource India (MRI) to distribute medical equipments in the country. Coefficient holds 15 per cent stake in the new venture while the remaining is with Vectra System. The new venture has a capital base of Australian $ 1 million. MRI would be focusing on cardiology, nephrology and urology segments.
It is for the first time that the Australian company has formed a joint venture in South Asia. The company has exclusive rights in Australia and parts of Asia to market a new patented medical equipment, Ultrasonic Cardiac Output Monitor (USCOM) developed by Uscom Pty Ltd (UPL), a sister company of Coefficient System. MRI would market the new product in South Asia. The USCOM machine measures blood flow across the heart valves using Continuous Wave Doppler ultrasound.
MRI will be opening up seven offices in the country by March 2003 when USCOM will be launched commercially. It expects to sell 100 units of the machine, each priced at Rs.5.5 lakh, in the first year after the commercial launch, according to R. Ramachandran, Managing Director, MRI.
In the meanwhile, MRI has also entered into an agreement with Sweden based Gambro to market Haemodialysers and CRRT machines in the country.