Aloka, a diagnostic ultrasound provider of Wallingford, Conn., and Trivitron, a Chennai, India-based medical device provider, have merged to manufacture ultrasound machines to cater to India’s rapidly growing medical equipment market.
The joint venture will be launched on an initial investment of Rs50 crore by both companies, followed by further subsequent investments.
In Phase I, Aloka and Trivitron will manufacture a series of imaging devices, including ultrasound scanners and whole body color dopplers, extend its current distribution network in India for sales application and engineering support for new products.
Products manufactured by the merger will also be exported to several international developing and developed countries.
The joint venture extends a seven-year relationship between Aloka and Trivitron, where together they aim to achieve a 20 percent market share in the Indian ultrasound market within two years.