Apex Medical Corp forays into India; to invest Rs 100 crore

Taiwan-based Apex Medical Corporation today announced its foray into India with plans to invest around Rs 100 crore initially.

The company, which is mainly into manufacturing of respiratory therapy and supports surface products, will initially import its products and sell them in the country through local dealers, hospitals and tenders to the government.

"The Indian healthcare market is growing at 12-15 percent, we expect Apex in India to grow at least by 5 times in the next five years," Apex Medical Corp CEO Daniel Lee told reporters here.

The company plans to invest close to Rs 100 crore in the initial phase in India, he added without giving any timeline. The three product verticals that company will focus are respiratory, support surface and autoclaves.

"We intend to offer best quality products at best and most affordable prices to medical personnel, care givers and consumers in the sub continent," Lee said.

On being asked if the company is also planning to manufacture the products in India, Lee said: "In the initial phase, we will only be marketing the products In India." "The company will adopt three routes to sell products in India. Through local dealers, through hospitals and through tenders to government," Apex Medical India President Puneet Sahai said.

Established in 1990, Apex Medical Corporation the company has created more than 100 product trademarks and patents worldwide.It currently markets its products in 60 countries around the world.