BPL Med Tech eyes Rs 350 crore revenues this year

Bets on growing X-ray portfolio

BPL Medical Technologies is expecting to close its revenues this year at Rs 350 crore, growing at a CAGR of 30-40%, owing to a multi-pronged growth strategy, involving new products in the realms of imaging.

Talking to DH, BPL Medical Technologies Chief Executive Officer and Managing Director Sunil Khurana said, “Prior to BPL Medical Technologies being incorporated in 2013 (after Goldman Sachs invested in it, and eventually became the majority stakeholder), it recorded average revenues of Rs 65-70 crore. This year, we hope to end our revenues close to Rs 350 crore.”

The B2B healthcare equipment provider designs and manufactures electrocardiograph machines, defibrillators, stress test systems, ambulatory blood pressure monitors, patient monitors, syringe and volumetric pumps, foetal doppler, foetal and maternal monitors, consumables (ECG rolls, jelly, anaesthesia consumables), and a host of imaging solutions, which it offers to hospitals, clinics, and nursing homes.

Khurana, stating that the idea is to make products specific for the Indian market, said, “If you want to make a product for any developed market, you may need to add frills. For the Indian market, one will have to make the products reasonable, simple, affordable, and for the masses.” The company has partnered with several global majors such as South Korea’s ALPINION and US’ Ambu, whose range it sells in India. It had also acquired UK-based Penlon, a leader in anaesthesia workstations, laryngoscopes and vaporisers.

As part of its plans for this year, BPL Medical Technologies plans to grow in the areas of ultra-sound and X-ray, wanting to launch more products in the latter range.

Today, India offers 1.1 beds for every 1,000 patients, compared with China’s 2.5 beds, and 14 beds in Japan. “There is immense opportunity for us to grow in the market. Corporate hospitals are delivering hub and spoke models, across the country. With more beds coming in, there’ll be more penetration, and demand for medical devices will rise. The challenge is not to develop products, but to find trained operators for them,” he said, adding that the company is also bullish on aftersales service.

“We also want to grow our factory at Palakkad, Kerala, and are exploring overseas markets for export,” Khurana added. Most products are made in India, with 60% of revenues being derived from them. “Lowcost of labour, local components, and products being designed at our Bengaluru R&D centre, helps us keep costs low,” he said.  Being bullish on the Indian market, the company is confident of hitting Rs 1,000 crore in revenues by 2021-22.