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IITPL comes under PLI umbrella to accelerate local production of cathlabs, to invest Rs. 100 crore
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Nandita Vijay, Bengaluru
October 27 , 2021
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Innovation Imaging Technologies Pvt. Ltd. (IITPL) which is selected for the Union Government’s productivity linked incentive (PLI) scheme is now working to manufacture cathlabs not just for India but for the world. The company is also committed to invest Rs. 100 crore in 12 months to propel its research and manufacture to cater to the demand supplying 500 cathlab a year. It is also seeking registration for exports.
The Union government’s move to incentivize companies with the PLI scheme is a big step in the direction to propel local manufacture. This enables faster scale to increase market reach not just in the domestic arena but also globally, said Gaurav Agarwal, managing director, IITPL.
India currently has over 6,000 manufacturers of medical devices but the country lacks scale. There are only 20 medical device producers in the country which are over Rs. 200 crore in terms of size. This step with the PLI taken by the government will enable the industry achieve size and enhance global competitiveness too, he added.
On how Innovation Imaging Technologies positions itself in the market dominated by global players, Agarwal said that the company had the distinction of being the third largest cathlab players in the market after Philips and Siemens. Of course in terms of technology, Siemens has some advancements in software that we are working on, Agarwal told Pharmabiz on the sidelines of the inaugural event of the state-of-the-art manufacturing facility for Cathlabs.
With this new facility, IITPL will further strengthen its market reach and we are now reaching healthcare facilities across the India competing with global players at a cost competitiveness of 30 to 35 per cent, he said.
Bengaluru-based IITPL is an Involution JV Company in the medical devices manufacturing industry and is known for its revolutionary Cath Lab, Pinnacle. The organisation is a joint venture between VJ Technologies, New York, Ex-Alpha X-ray Promoters, Germany and India, and Innvolution Healthcare, New Delhi.
In a short span of just over 3 years of commercialisation, IITPL has a presence across 67 cities and 16 states in India and aims to establish Cath Labs in every 718 districts in India by 2030.
This new facility will further reinforce the importance of Cath Labs, which are both diagnostic and therapeutic medical equipment to treat cardiovascular disease, the No. 1 killer in India. The key reason for the prevalence of this disease is the limited number of angioplasties being performed in the country due to poor penetration of Cath Labs in several districts. This is where IITPL is set to become a game-changer in the medical equipment manufacturing industry.
IITPL is India’s fastest-growing and Asia’s most awarded Cath Lab company, which manufactures Catheterisation Laboratory – Pinnacle family of Cath Lab. Its technology is developed indigenously and brings many first-in-industry innovations. In 2025 it has committed to invest Rs. 250 crore for novel x-ray based therapies.
“With this expansion, we further aim to bring the accessibility of and affordability for treating this deadly cardiovascular disease, save millions of lives and significantly bring down the fatality. With this development, we have further reinforced our commitment to the ‘Make in India’ initiative and plan to expand our services to the overseas market as well, in the coming years.”
The organization is also contributing to the much-needed skilled development in this advanced technology space, by hiring fresh graduates and providing training on a regular basis.
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