Poly Medicure to expand production

Delhi-based Poly Medicure Ltd will adopt two technologies to manufacture insulin syringes and blood tubes (safety blood collection holders) at its Uttarakhand facility under the second phase of its expansion.

Once operational, it would be the first company in the country to manufacture blood tubes, Managing Director Himanshu Baid said.

The firm manufacturers medical devices and disposables under the brand name "Polymed" and has manufacturing facilities in Haryana, Uttarakhand and Rajasthan.

Moreover, with this new set-up, the manufacturing capacity of the company will reach 250 million units per annum from the current 170 million.

As far as capital outlay is concerned, in this phase the company will invest Rs 7 crore.

The company will produce 30 million units of insulin syringes and 30-40 million tonnes of blood collection samplers per annum.

Commenting on the target for the current year, Baid said, "We are one of the fastest-growing companies in the Rs 7,000 crore medical disposables market. Polymed had a turnover of Rs 87 crore in 2006-07 and is targeting Rs 105 crore plus for 2007-08. We are growing at 21 per cent, compared with the industry growth rate of 13 per cent."

The company has two manufacturing facilities in Ballabhgarh (one new) and one in Jaipur. It has recently started a plant in Haridwar. It acquired a manufacturing plant in Egypt and is in talks with companies in Europe and the US for more acquisition.

It is focusing on tie-ups with large hospital groups in the country. "We are concentrating on tie-ups with large hospital groups like Apollo, Wockhardt, and Max," Baid said.