Trivitron acquires majority stake in Turkish IVD device maker

With this, Trivitron will acquire Bome's expertise on running low-cost new born screening programmes in PPP mode

Medical technology firm Trivitron Healthcare has announced acquisition of 60 per cent stake in Turkish healthcare firm Bome Sanayi Urunleri Dis. Tic. Ltd Sti, which is into In-Vitro Diagnostic (IVD) device manufacturing. The company has invested five million euros in the acquisition.

With this, Trivitron will have direct access to the Turkish, Middle Eastern, African, South and South East Asian Markets.

"We have invested five million euros for picking up the stake including share premium," said G S K Velu, chairman and managing director of Trivitron. Through this acquisition, Trivitron will acquire Bome's expertise on running low-cost new born screening programmes in Public Private Partnership mode. India is yet to start the organised Universal New Born Screening and having Bome in our fold will be an added advantage to Trivitron Group, he said.

The acquisition brings in growth capital and distribution network for Bome who have been active in diagnostics since 1989 and have been conducting new-born screening tests for the last eight years on behalf of the Government of Turkey. Trivitron is expecting significant growth in the region as it will have access to Bome's production facility, research labs and New Born Screening Laboratory. The company now have nine manufacturing facilities located in India, Finland and Turkey.

Bome Sanayi is one of the first to foray into In-Vitro Diagnostic (IVD) device manufacturing in Turkey. The products of the company are marketed under the brand name Trimaris and exported to Portugal, Syria, Egypt, Iraq, Sudan and Kenya. Besides, Bome has 100 per cent market share in New Born Screening Tests by screening over 1.8 million babies and 10 million tests per year in Turkey.

The Bome production facility is located at Ostim, Ankara in Turkey with labs located in Ankara and Istanbul. Current production lines include new born screening tests, hematology solutions, clinical chemistry reagents, rapid urease tests, coagulation reagents and sterile & non-sterile deionized water etc.

He also added, "Trivitron will now have access to produce IVD Diagnostics Kits using Finnish (fluorescent /mass spectrometry) and Turkish (Elisa) techniques in France, Turkey and India. Finnish product is good for hi-end testing and Turkey for the mass market. In India, the commercial production will be commencing soon for these products using Finnish technology. The company will now have access to lot of R&D funding in Turkey too."

The company will also get incentives from the Turkish government for making in Turkey. New Born Screening is a compulsory government programme in Turkey and Trivitron will showcase the programme to the Indian government with a focus on Public Private Partnership and pay-per-baby model.

The founder of Bome Sanayi Urunleri Dis. Tic. Ltd Mehmet Demirel had 55 per cent stake in the company and CEO Gulsah Sonmez had 20 per cent. Post acquisition, the promoters will have 40 per cent stake in the company. It has reported a sales turnover of 22 million lira, which is approximately Rs 50 crores.

Trivitron currently has a revenue turnover of over Rs 700 crore, and has products exported to over 165 countries.

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