L&T sells medical equipment biz to Skanray Healthcare

Written by fe Bureau | Mumbai | Updated: Nov 17 2012, 08:33am hrs
Indias largest engineering company Larsen & Toubro (L&T) said on Friday that it has sold off its medical equipment business to Skanray Healthcare for an undisclosed sum. The Mysore-based medical equipment division, L&T Medical & Systems, was put on the block by the engineering and construction company as a part of its strategy to exit non-core businesses in 2008. The division was hived off from the company's electrical and electronics business into a separate unit to enable the sell-off. Terming the sale relatively "small", L&T sources said it wanted to exit the business which had established players like Siemens and GE. However, the company is only selling its products and not its assets, sources added.

L&T has previously sold off its cement business, concrete business, fuel dispensing equipment manufacture, and in August this year it sold off L&T Plastic Machinery.

Skanray Healthcare is owned by Skanray technologies, which is engaged in the business of Diagonostic Imaging products and primary healthcare devices.

The firm specialises in high frequency X-ray imaging systems, critical care devices and primary healthcare and telemedicine- compatible devices of international quality.