Apex Medical, a major Taiwan medical device maker, said it plans to invest at least $15.7 million in India to develop and market three of its product lines: respiratory, autoclaves and support services.
The company said the investment, through its Apex Medical India unit, was just an initial investment, suggesting it plans to spend more in the future.
CEO Daniel Lee said Apex expects its presence in the India market to be 5 times larger than it is now, according to Australia-based China National News.
Puneet Sahai, president of the Apex India unit, said the company expects to begin its entry into the India market by importing those products from Taiwan and selling them through local dealers, hospitals and government tenders, eventually growing at an annual rate of 30%. The India healthcare market itself is growing at between 12% and 15%, Apex said.
The 25-year-old company already operates in 60 countries.
- here's the story from China National News