The Hindu Business Line : Relisys ties up with 2 Spring for medical devices

Making this feasible would be an exclusive agreement between Relisys Medical Devices Ltd (RMDL), the device manufacturer and the Netherlands-based 2 Spring.

RMDL is into manufacture of low-cost, quality stents and catheters and has a pipeline of 18 devices, which it plans to bring to the market, according to Mr Badari Narayan, Managing Director.

The agreement with 2 Spring gives access to the lucrative European market for RMDL, as an original equipment manufacturer, he told newspersons here recently.

For 2 Spring, it could exploit the European OEM market (estimated at €1 billion a year) in the finished devices, semi-finished and tubings to its existing customers and industry, said Mr Tim Apples, Managing Director.

Phase-II expansion

RMDL has invested up to Rs 39 crore in phase-I and is putting another Rs 46 crore in phase-II expansion for creating manufacturing facilities and marketing and regulatory approvals for its products, Dr Krishna Reddy, Chairman, said.

The company is open to raise debt and source funds from private equity funds, though a major portion of the funds have been tied up, he said.

With an anticipated turnover of Rs 40-45 crore, it hopes to break even next fiscal.

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