Japanese company Create Medic, a manufacturer of silicone catheters used in the healthcare industry, has announced plans to expand its operations in India, which includes setting up of sales offices and evaluating manufacturing footprint.
The company will set up a dedicated sales office in Chennai and will eventually open similar offices in Delhi, Kolkata and Ahmedabad. This will be a transition from the company’s current models, where it sells devices in collaboration with a distribution partner.
Speaking at a press event, Osamu Imazawa, President, Create Medic, said the company is forecasting long-term revenues of about ₹100 crore from the Indian market, without revealing an exact timeline.
“India has shown strong market growth with large medical infrastructure, top doctors and a strong purchasing power, making it a high potential market for our products. There is a rising demand for advanced medical solutions and hence we are strengthening our presence in this market,” he said.
₹100 crore manufacturing facility
The company also has plans to set up a ₹100 crore manufacturing facility in India. It aims to make the facility a supply base both for the Indian and neighbouring as well as the African market. Imazawa said the location and the timeline of the facility is still under discussion.
Currently, its products in the Indian market are imported from Vietnam, China and Japan where the company has manufacturing facilities
Create Medic supplies devices like catheters and tubes that have applications in domains such as urology, gastroenterology and percutaneous endoscopic gastrostomy (PEG) care. Some of its major clients in India include Tata Memorial Hospitals, Delhi AIMS, Apollo Proton Cancer Centre and Sparsh Hospitals.
Commenting on the West Asia war, Imazawa said that while silicone production itself has not seen a major impact, some of the other parts and components used in the devices have become difficult to procure.