Poly Medicure Ltd, manufacturer and supplier of wide range of disposable medical and surgical devices, is planning to expand the reach by investing Rs 25 crore and setting up another facility at Ballabgarh in Haryana.
The Rs 100-crore entity has its new manufacturing facility at Uttaranchal already started functioning from June this year. It has units in Faridabad, Jaipur and Egypt (in collaboration with a partner).
The company, which is on a mode of expansion by consolidating the manufacturing and entering into tie-ups, has already acquired a US company last year and applied for three patents and two US FDA approvals for its safety, according to managing director Himanshu Baid.
"Polymed is growing at a rate of 40 per cent (domestic) compared to the industry growth of 10-15 per cent. Polymed is also expanding its present capacity of 130 million units to 180 million with the capital expenditure of Rs 25 crore to cater to the burgeoning demand in the domestic and international market,'' he said.
POLYMED is now focusing on tie-ups with large hospital groups in the country to increase presence in the domestic Market. Polymed manufactures more than 40 different products under different categories like IV Cannulaes, Infusion Therapy Devices, Central Venous Access Catheters, Anaesthesia, Blood management devices and other surgical products. The company is already exporting its range of products to more than 50 countries across different continents including Europe/ Africa / Asia and South America .
It has successfully implemented a quality management system and has been accredited by SGS Yarsley International Certification Services, United Kingdom with ISO 9001:2000, ISO-13488: 1996 and CE mark for some of its products. For rest of the products, the company has been accredited CE mark by DNV, Norway thus making the entire product range match up to International Quality Standards.