CHENNAI: Japanese medical device manufacturer Create Medic Co Ltd on Wednesday announced its expansion plans in India by setting up its dedicated sales office in Chennai with an initial investment of Rs 5 crore.
The healthcare product manufacturer, which has manufacturing units in China, Japan and Vietnam and specialises in silicone catheter technology, will operate under its Indian subsidiary, Create Medic India and has plans to set up a manufacturing unit in India as it is generating revenues from the country.
The company would also set up its sales offices in Mumbai, Delhi, and Ahmedabad in the next five years. Katsuaki Yamane, MD of Create Medic India, said that the company has plans to collect revenue of Rs 20 crore in the short term and Rs 100 crore in the long term from the Indian markets.
Osamu Imazawa, President of Create Medic Co., said, “The large Indian medical infrastructure is seeing a growth rate of 8% for its products.”
The clients of Create Medic are Tata Memorial Hospitals, AIIMS, HCG Cancer Hospital, PGIMS, Apollo Proton, Adyar Cancer Institute and Christian Medical College.
Commenting on the focus on Chennai markets, Imazawa said, “The products of Create Medic have seen growth in demand among the Chennai hospitals and its tie-ups with Medinippon Healthcare Pvt Ltd (Indo-Japan JV firm in healthcare technologies).”
The aim of setting up a manufacturing plant in India is to make the country a supply base for the Indian markets, neighbouring countries and African nations.
Create Medic was formed in 1974, has a global turnover of $90 million and is listed on the Tokyo Stock Exchange.