Philips India has unveiled its first 'Made-in India' cardiovascular X-ray system as part of the strategy to penetrate the low-cost diagnostic equipment market across the country, as also export it to some European and Asian nations.
This is the first indigenous product to be launched by Philips after it acquired Indian medical equipment manufacturer Alpha X-ray Technologies in 2008.
"Philips Cath Lab Allura FC is the first indigenous product to be rolled out post acquisition... It is targeted at the value segment and is an attractive solution for hospitals to extend cardiac care in remote areas with scarce medical equipment," Philips Electronics India Managing Director and CEO, Indian Subcontinent, Murali Sivaraman said.
Hitherto, Philips Healthcare products were manufactured only in The Netherlands, Germany, Finland, Israel, Brazil and the USA. Manufacturing the healthcare equipment locally would help cut costs.
The company plans to export the system and has already got regulatory approvals for the product from European and Asian authorities.
"We are focusing on healthcare in a big way. It is going to witness a significant growth rate," Murali said here, while unveiling a wide range of products across Philip's three major categories – Healthcare, Lighting and Consumer Lifestyle.
Healthcare business accounted for 29 per cent of Philips' total sales in 2008.
Philips India, which had Rs 3,200 crore in revenues in 2008, is a subsidiary of the Dutch company and about 50 per cent of its revenues come from the Lighting business. Consumer Lifestyle and Healthcare account for the rest.