India retains steady growth
fluctuations, the year saw Medispec India achieve a decent growth
through its alliances with its main principles and businesses coming
from academic institutions.
In fiscal 2008-09, Medispec clocked a biotech
sales of Rs 30.30 crore (excluding its diagnostics revenue).
Incorporated in 1995, Medispec India Limited (MIL) is involved in
marketing, distribution, installation, servicing and calibration of
hi-tech biomedical, analytical, scientific and diagnostic systems. MIL
is ISO 9001:2001 certified and represents prominent overseas
manufacturers for their diversified product range with main thrust on
biotechnology and molecular biology.
The company serves a large market segment that includes a large set of
clients. Some of the companies represented by MIL in India
are— Bio-Tek Instruments, USA; Nuaire, USA; UVP, UK; Celsis,
UK; Labcaire, UK; Nickel Electro, UK; Polygen, Germany; LGM,
International, USA; Iris Sample Processing, USA; Sperion Protection
Clothing, France; and Seracare, USA.
One of the milestones for the company was joining hands with BioTek
Instruments thus forming BioTek Instruments India. This division
contributes about 40 percent of the total revenue for MIL. BioTek is a
supplier of multi-detection microplates, microplate washers and
MIL employs about 50 people at its offices in Bangalore, Chennai,
Delhi, Hyderabad, Chandigarh, Kolkatta, Lucknow, Pune, Ahmedabad,
Bhopal besides Mumbai. MIL also has operations outside India
in Sri Lanka, Bangladesh, Nepal and Bhutan. While in Nepal it
is more of institutions and in Bhutan it is more of clinical research
centers. MIL also has plans to enter the Gulf region in the form of
technical support for high-end machines. In India, there are
also plans to set up an office in Guwahati,
In fact, the company in the last fiscal, saw growth of
businesses from the government sector especially from
academic institutions and colleges.
Vippul Chhatbar, CEO, Medispec India, said, “Education is one
area where the government is investing and spending money. So that was
a blessing in disguise because the year saw pharma companies not going
into many investments because of the slowdown.” The year also
saw a significant growth in their business with
Nuaire, USA, achieving a business sales close to $2 million.
MIL also saw significant growth in its diagnostic business
and clocked an annual sales of Rs 5 crore The division which
commenced operations in India last year, has come up with tests for
cancer testing and prevention. “Other areas where we are
working on finding latest diagnostic tests are in TB, malaria,
leptosporosis. We are also in the process of launching external quality
assurance tests for infectious diseases,” said