Medical technology firm Trivitron Healthcare has acquired 60 per cent stake in Turkish firm Bome Sanayi Urunleri Dis Tic Ltd Sti for 5 million euros (around Rs 37 crore).
The remaining 40 per cent stake in in-vitro diagnostic (IVD) device manufacturing firm will be held by the promoters, Trivitron Healthcare said in a statement.
With this acquisition, Trivitron will have direct access to the Turkish, Middle Eastern, African, South and South East Asian Markets, it added.
Trivitron Chairman and Managing Director G S K Velu said: “We have invested 5 million euros for picking up the stake including share premium.”
Through this acquisition, Trivitron will acquire Bome’s expertise on running low-cost new born screening programmes in public-private partnership mode, he added.
Trivitron will now have access to produce IVD diagnostics kits using Finnish and Turkish techniques in France, Turkey and India, Velu said.
In India, commercial production will be commencing soon for these products using Finnish technology, he added.
“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,” Velu said.
Trivitron Healthcare has a revenue turnover of over Rs 700 crore and exports products to over 165 countries.
Like this report? Sign up for our daily newsletter to get our top reports.