New Delhi, 11th July 2016: Trivitron Healthcare, one of India’s largest medical technology companies has announced the acquisition of a 60% stake in Turkish healthcare firm Bome Sanayi Urunleri Dis. Tic. Ltd Sti. The remaining 40 per cent stake in the In-Vitro Diagnostic (IVD) device manufacturing firm will be held by the promoters.
With this acquisition, Trivitron will have direct access to the Turkish, Middle Eastern, African, South and South East Asian Markets. Trivitron expects significant growth in the region as it will have access to Bome’s production facility, research labs and New Born Screening Laboratory. The company will now have nine manufacturing facilities located across India, Finland, and Turkey.
Bome Sanayi is one of the first to foray into In-Vitro Diagnostic (IVD) device manufacturing in Turkey. The products of the company are marketed under the brand name Trimaris and exported to multiple nations across the globe, including Portugal, Syria, Egypt, Iraq, Sudan and Kenya. “Besides, Bome has 100 per cent market share in New Born Screening Tests by screening over 1.8 million babies and 10 Million tests per year in Turkey,” said Trivitron Chairman and Managing Director Dr. G.S.K. Velu. The Bome production facility is located at Ostim, Ankara in Turkey with labs located in Ankara and Istanbul. Current production lines include new born screening tests, hematology solutions, clinical chemistry reagents, rapid urease tests, coagulation reagents and sterile & non-sterile deionized water etc.
“We have invested five million euros for picking up the stake including share premium. This acquisition brings in growth capital and distribution network for Bome who have been active in diagnostics since 1989 and have been conducting New Born Screening Tests for the last eight years on behalf of the Government of Turkey. Through this acquisition, Trivitron will acquire Bome’s expertise on running low-cost New Born Screening programs in Public Private Partnership mode. India is yet to start the organized Universal New Born Screening; having Bome in our fold will be an added advantage to Trivitron Group,” said Dr Velu.
He also added, “Trivitron will now have access to produce IVD Diagnostics Kits using Finnish (fluorescent /mass spectrometry) and Turkish (Elisa) techniques in France, Turkey and India. While the Finnish product will be used for hi-end testing, products from Turkey are said to serve the majority market. In India, the commercial production will be commencing soon. Moreover, the company will now have access to R&D funding in Turkey too. Besides, the company will also get incentives from the Turkish Government. 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. A universal New Born Screening program like this on a PPP model with various state governments supported by Make In India initiative will substantially help the 26 Million babies born every year in India.”
The founder of Bome Sanayi Urunleri Dis. Tic. Ltd, Mr. Mehmet Demirel, had a 55 per cent stake in the company; CEO Gulsah Sonmez had 20 per cent and Zeynep Demirel 20 per cent. The company reported a sales turnover of 22 million lira, which is approximately 50 crore INR.
About Trivitron Healthcare:
The genesis of Trivitron Healthcare Private Limited, dates back to 1997, when Dr. Velu, a first generation entrepreneur decided to build a company on the premise of delivering cost-effective medical technology solutions and services to the underprivileged. Today, Trivitron Healthcare, through successful inorganic synergies with local and global firms, has a revenue turnover of 700+ crores, and is the largest medical technology company of Indian origin, that exports products to over 165 countries across the globe.