Business Daily from THE HINDU group of publications
Monday, Sep 21, 2009
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Business Daily from THE HINDU group of publications Monday, Sep 21, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Medical Institutions & Hospitals States - Gujarat Cryo-Save sets up collection centre in Ahmedabad Our Bureau Ahmedabad, Sept. 20 European adult stem cell bank Cryo–Save India has set up its eight collection center in the country at Ahmedabad. The company has a presence in A-class cities with a bank and laboratory at Bangalore. The Ahmedabad bank was started on Friday. “As of now, we will try to become strong in these cities and do not intend penetrating any other city, because this is where the market is,” said Mr V.R. Chandramouli, Managing Director. The company commands 12 per cent of the market share of stem cell banking in India, and plans to make India the hub of Asia-Pacific region. It has laboratories in Dubai, Europe, India and is on the verge of completing a fifth one at Lyon, France. India is strategically important for the company as its economy and population are on an upward swing as compared to Europe, where the population growth is going into the negative area. “Both these growth factors work for our business and we think that India would push us into leadership position,” he said. The company has invested €2 million in the country but has no immediate plans for further expansions. India has five companies that have been approved to operate the business and Mr Chandramouli said he hoped that the Government would come out with a regulation soon. There is a draft bill lying with the Central Government at this moment, he added. For Rs 90,000, the bank will collect, process and store the cord blood and prepare cord lining for storage upto 21 years at its lab at Bangalore. The lab has the capacity to store 3,00,000 samples. For only storing cord blood, a customer would have to pay Rs 75,000, but payments can be made in instalments, he added. More Stories on : Medical Institutions & Hospitals | Health | Gujarat
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