Poly Medicure, manufacturer of medical devices and disposables under the ‘Polymed’ brand, is foraying into renal, respiratory and blood banking segments besides expanding its dealership network in Tamil Nadu, a senior company official said.
The company was setting up a greenfield plant in Faridabad, Haryana, with an investment of Rs 60 crore for the new business segments, its Vice-President, Sales and Marketing, Hemanth Bhalla said in a release here recently.
Stating that the plant would become operational by third quarter next year, he said with the foray into new product segments, the company expected 50 per cent more growth in the domestic market.
Poly Medicure would add 500 dealers, including several in Tamil Nadu, to its existing network of nearly 1,000 dealers.
With a turnover of Rs 395 crore in 2015-16, Poly Medicure, listed both on the BSE and NSE, is aiming to capture three to five per cent market share in the new product segments, Bhalla added.