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Transasia Bio-Medicals eyeing $! billion revenues, 70% from overseas

Virendra Singh Rawat/Lucknow 21 Apr 19 | 05:24 PM

Leading In-Vitro Diagnostic (IVD) solutions company Transasia Bio-Medicals is eyeing revenues of about $1 billion in the next 5 years, of which 70% is projected to accrue from overseas.


Currently, the overseas business contributes nearly 40 per cent to the top line of the company, which clocked Rs 1,300 crore in revenues during 2018-19, chairman and managing director Suresh Vazirani told Business Standard in Lucknow, adding in the current financial year, Transasia was expecting a 15 per cent uptick in turnover at Rs 1,500 crore.

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He said overseas revenues were growing faster than domestic, since the company had acquired leading R&D firms in Europe and the US, and had penetrated deeper into developing economies in Africa, Latin America and East Europe.


Transasia, which has invested Rs 1,500 crore in acquiring 14 medical R&D firms the past decade, is now looking for fresh acquisitions to boost its global position as a leading player in state-of-art medical and diagnostic devices.


Vazirani said the company was scouting for suitable companies for acquisition in the developing countries, including Latin America, to supplement its value chain to cater from segment to segment.


“We have a robust R&D portfolio and now we are planning to acquire companies, which would offer us greater market traction in key territories," he said adding talks were already in progress with a few overseas marketing firms.


Besides, Transasia Bio-Medicals is mulling an Initial Public Offer (IPO) over the next two years to fund the acquisition roadmap. While he did not disclose the targetted mop up from the capital market, Vazirani added the company would require a war chest of Rs 3,000 crore for acquisitions over the next 2-3 years.


Meanwhile, the debt-free company is planning to expand its product portfolio to become only the 4th complete medical diagnostic and devices entity globally in the next 3-5 years. At present, it has 14 subsidiaries and footprint in more than 100 countries. It operates 6 manufacturing facilities globally, including 4 in India.


Currently, the domestic IVD market is estimated at Rs 7,000 crore with Transasia commanding a market share of 13-14 per cent. The global market is pegged at more than $60 billion or over Rs 4 trillion.


Meanwhile, the Mumbai-based company yesterday launched new hematology products in the Uttar Pradesh market, which is expected to generate revenues of Rs 300 crore for Transasia in the current fiscal.


“In the last 2-3 years, Lucknow has witnessed fast paced growth in the healthcare facilities and infrastructural development. The city has become a preferred hub to cater the healthcare needs of the entire spectrum of population and host of medical conditions across specialties," he noted.


India ranks low, at 145 among 176 countries, on the quality and accessibility of healthcare parameters. He said the company was using R&D for making products more affordable.

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