DiaSorin continues its expansion plan in Asia through the establishment of a joint venture with the local partner Trivitron Healthcare, an Indian company focused on manufacturing, innovation, distribution and after-sales service, with a broad offering in in vitro diagnostics (IVD).
Trivitron Group is one of India's top three medical device groups, with extensive experience in the IVD market also acquired through a number of long-term partnerships with multinational companies.
According to the provisions of the agreement, the DiaSorin Group and the Trivitron Group have set up DiaSorin Trivitron Healthcare Private Limited, limited liability company based in Chennai, in which the parties own 51% and 49% respectively and which will operate directly in the Indian diagnostic market.
The industrial plan of the newly established company, fully financed by DiaSorin and Trivitron, will allow the DiaSorin Group to enter directly the Indian IVD market, estimated at approximately €400 million and with an annual growth of 15%.
The offer will initially focus on the vitamin D market and subsequently on all Liaison XL, Murex and molecular diagnostics products, thus strengthening the current and future presence of the DiaSorin Group in India, the second fastest growing diagnostic market in the world after the Chinese one.
Carlo Rosa, CEO of the DiaSorin Group, commented: “The Joint Venture Agreement with Trivitron is fundamental for the success of the DiaSorin Group in a relevant market such as India and represents an important pillar of the current and future expansion strategy of our Group in Asia.
We are confident that Trivitron's experience and expertise will enable us to enter the Indian market quickly and successfully. I am also confident that the quality of our tests and instruments, coupled with Trivitron's in-depth knowledge of the Indian market, will enable us to grow significantly in a market that will be another major revenue source in the Asian region.
The agreement reached is further confirmation of the high quality standard of our products and systems and lays the foundations for the growth of our Group all over the world”.
Dr. GSK Velu, Founder and Managing Director of Trivitron Group commented: “The joint venture with DiaSorin represents an important milestone for Trivitron to gain the market leadership position in the IVD segment in India.
We are confident that the agreement reached will secure a unique position for DiaSorin and Trivitron in in vitro diagnostics in the Indian market. Trivitron has always stood out for its ability to achieve leadership positions in the immunodiagnostic segment through the best and most innovative tools based on CLIA, ELISA, RIA technology as well as in Molecular Diagnostics. By combining our strengths with those of DiaSorin, we aim to achieve leadership in the Indian immunodiagnostics segment over the next three years.”
