Mr Daniel Lee, CEO, Apex Medical Corp
Estimated at $75 million, the company is a major player in the respiratory therapy and pressure area care sectors. Apex Medical India is a wholly owned subsidiary of Apex Medical Corp.
The entry also marked the launch of its three main product verticals in India, including respiratory, support surface and autoclaves.
"Apex Medical Corp has entered into India with an open mind and for long haul. We will not hold our decisions that restrict the growth for long term. For this, we are open to being part of ‘Make in India' campaign in the next phase of our growth, for example, which could be by setting up an assembly plant or even will consider options to grow by acquisitions," said Mr Daniel Lee, CEO, Apex Medical Corp, while speaking exclusively to BioSpectrum.
The company in a statement said that it has long term growth plans in the Indian market and expects to grow at a CAGR of 30 percent.
Talking about capturing the market share in India, Mr Lee opined, "This is just the entry phase. We aim to gradually grow the business strategically, and hope to achieve a reasonably good market share in India in the next 5 years."