Manufacturers of medical devices and disposables Poly Medicure Ltd plans to invest ₹60 crore in a new green field project at IMT Faridabad in Haryana.
The proposed project would be the company’s third facility in Haryana, and is expected to go on stream during the third quarter of 2017.
Addressing reporters, Hemant Bhalla, Vice-President (Sales and Marketing), Poly Medicure, said the company has over 4-lakh sq ft of manufacturing area with over one-lakh sq ft of clean room area for rapid expansion of capacity.
“The investment on the green field project would be through internal accruals,” he said.
The company, which markets its range of products under ‘Polymed’ brand has six manufacturing facilities of which four are in India — one each at Jaipur and Haridwar and two in Faridabad, Haryana — one in China (a wholly-owned subsidiary) and the other in Egypt.
The fifth facility in India is slated to come up soon.
The company produces more than 100 different types of medical devices. The range includes products under the category of infusion therapy, central venous catheter, blood management system, surgery and wound drainage, anaesthesia, urology, gastroenterology and dialysis.
It plans to add DEHP-free and PVC-free products to its range as these are considered environment-friendly and free of carcinogens.
Its recent foray into renal, respiratory and blood banking sector with its range of disposables would ensure patient and healthcare worker safety, Bhalla said, highlighting the design aspect of the disposable syringe among others.
The ₹394-crore company earns 70 per cent of its revenue from export, which according to Bhalla, cuts across 90 countries with Europe accounting for the biggest share.
“We plan to tap the domestic market potential by strengthening our sales team and increasing our dealer network by another 50 per cent so as to increase hospital coverage,” he said.