Philips Healthcare To Invest Rs 380 Crore To Double Pune Plant Facility

Philips Healthcare India plans to double manufacturing capacity of its Pune facility by investing up to $60 million (over Rs 380 crore) in three to five years.

The company is also scaling up its operations under the PPP model to keep its growth rate healthy. It has pegged revenue growth at 18 percent for the current fiscal.

Philips Launches Brand New Range of Bodygrooming Solutions for Men
Philips new bodygrooming range helps to get rid of excessive body hair. It is available in three variants with a price range between 1,295 and Rs 1,495.

"Philips India will be investing around USD 50-60 million for doubling the capacity of the Pune plant in around three to five years. This is excluding the land cost," said, Philips Capital India Chief Executive Officer Chhitiz Kumar.

Philips Capital India approves investments for various business models, including PPP, for Philips Healthcare.

"Once the capacity is doubled, more and more business lines such as ultrasound machines, CT scans and MRIs will come out of the Pune facility," he added.

Philips Respironics Develops All Nasal PAP Mask
Victims of obstructive sleep apnea (OSA) who are prescribed positive airway pressure (PAP) machines do not go ahead with using them as they are strapped on to the face and this makes it quite uneasy.

The Pune facility currently manufactures high-end cath labs and mobile surgery, he added.

It also serves neighboring countries such as Sri Lanka, Bangladesh, Nepal and Bhutan.

FDA Approval for Philips Whole Body PET / MR Imaging System
Royal Philips Electronics NV's combination scanner that can scan the body for cancer using bot PET and MRI has been approved by the US FDA.

On the company's growth, he said: "We are expecting up to 18 percent growth in the current fiscal. We have been seeing a double-digit growth year on year for the past four to five years."

Kumar said Philips in India is today a roughly a billion dollar entity in three segments -- lighting, healthcare and lifestyle. Out of this, around USD 300 million comes from the healthcare vertical.

Philips Healthcare to Launch Over 250 �Sleep Awareness� Programs in India on World Sleep Day
On World Sleep Day Philips Healthcare India launches programs to increase awareness on common sleep disorders that affect an overwhelming 93% Indians.

Asked what will be the main drivers of growth, Kumar said: "At a macro level, the economy seems to be turning around. We are also making a lot of locally-relevant products locally."

The company is also looking at adopting new business models for growth, he added.

"We are very focused on adopting new business models in the country such as PPP in the healthcare sector. We, along with the Manipal group, are setting up seven radiology centres in Haryana," said Kumar.

The next state the company is looking at for PPP model implementation is Jharkhand.

Philips India is a subsidiary of Royal Philips of the Netherlands, a diversified technology company, focused on improving people's lives through innovation in healthcare, consumer lifestyle and lighting.

Source-PTI