Chennai

Trivitron Healthcare Private Ltd., a leading manufacturer and exporter of medical devices, is gearing up to expand its operations into the US market while planning the launch of its first catheterization (cath) lab product for the domestic market. The Chennai-based company is aiming to surpass the ₹1,000 crore revenue by the end of the current fiscal.

Trivitron’s foray into the US is part of a broader strategy to penetrate an under-explored market.

“The US is largely untapped for us, and formal expansion is on the horizon,” said Chandra Ganjoo, Group Chief Executive Officer of Trivitron, told businessline.

Tapping US market

Starting January 2025, it plans to introduce key products, including newborn screening and radiation protection solutions, to the US market. This initiative is projected to contribute a 15-20% revenue increase in its first full fiscal year of operations. Over the past 18 months, it has pivoted towards establishing local manufacturing operations, and acquiredthe Kennedy Company, specialising in radiation protection and acoustic barrier products. The acquisition allowed Trivitron to set up a production hub in Scottsboro, Alabama.

While a significant portion of Trivitron’s US operations revolves around contract manufacturing, the company has begun increasing its sales and marketing teams to support this expansion. In the domestic market, it aims to launch its first cath lab product by the end of the current financial year.

“Cath labs represent a significant market opportunity and are an essential part of a complete radiology setup alongside X-ray, C-arm, CT, and mammography systems,” Ganjoo said. The product is still in the R&D phase, but the company remains optimistic about adhering to its planned launch timeline.

Diversifying revenue

Trivitron operates in both pathology and radiology equipment segments. Currently, radiology accounts for 60 per cent of its revenue, while pathology contributes 40 per cent. “The goal is to achieve a balanced 50-50 split, with a stronger focus on growing the pathology segment,” she said.

The company continues to enhance localisation in its products. Most devices, except CT scanners, now have localisation levels. It posted ₹875 crore in revenue for FY24. Domestic operations contribute about 60% of the company’s revenue, with the remainder coming from international markets. The company has a strong global presence, operating 15 manufacturing facilities across countries like Turkey, Finland, the US, and Russia, in addition to India.