KHATMADU: Midmark India, a fully-owned subsidiary of Midmark Corporation and a leading provider of medical furniture, is aiming to increase the revenue share from exports by up to four times by 2020, said a top official.
“Currently, we export medical furniture, which works to 3% of our revenue,” said Sumeet Aggarwal, managing director, Midmark India Pvt. Ltd. “Our plan is to increase exports to 10-12% of revenue in three years by [entering] newer markets such as Bangladesh and Nepal.”
Its U.S.-based parent acquired Janak Healthcare Pvt. Ltd. in 2014 for an undisclosed sum. The company operates in four areas: medical furniture including hospital beds and OPD spaces, diagnostics, home care and skill development. For the last 15 years, Janank Healthcare has been exporting its products to more than 30 countries and it had received “good responses in Russia, Africa and West Asia.”
Adding that Midmark India had been growing at 20% annually against industry growth of 14%, he said the existing demand outstripped its production capacity. Mr. Aggarwal said the firm has invested close to ₹15 crore on a nano-technology based medical device manufacturing plant in Gujarat, which cuts down production time. “From now, painting will be done at a faster rate, while we have to produce more hospital beds to match with the new facility,” he said.
Right now, Midmark is producing 25,000 beds, including accessories, in Gujarat and it would be increased to 35,000 beds over the next two months. “Our aim is to produce 50,000 beds by 2023. It is a ‘Made in India’ product with some imported parts,” he said.
Stating that State governments were showing interest in their products, Mr. Aggarwal said they had set up 15 experimental centres in the country to showcase their barrier-free OPD room, advanced motorised, patient positioning systems and digital diagnostic solutions. “State government share has increased from 5% to 40%. Besides, five more experience centres are in the pipeline,” he said.