Transasia Bio-Medicals’ success story in Fortune India 2021 Issue
Fortune India, October 5, 2021: From a Rs 250 start-up to a Rs. 1,000+ cr turnover with a global presence, Transasia Bio-Medicals Ltd. has come a long way in the last four decades. Established to offer quality, affordability, and reliability, it continues to be the trailblazer in the Indian IVD space!
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1. From providing after-sales service for imported equipment to being India’s leading In-vitro Diagnostic (IVD) manufacturer, Transasia has come a long way. What has helped you carve a niche?
Transasia Bio-Medicals Ltd. was set up in 1979 when India completely relied on imported medical equipment and there was hardly any trained personnel for after-sales service. Yet today as a country we are still dependent on imports to meet 70% of our diagnostic needs!
What gives me a sense of fulfillment is that in the last 42 years, we have succeeded in making diagnostics affordable and accessible for the 1.3 bn fellow Indians. That has been possible because we realized early on, that manufacturing in India was the answer. Transasia was the first to offer ‘Make in India’ diagnostic equipment in 1991 and today it is the largest manufacturer in India exporting to over 100 countries!
2. In the MedTech sector continuously developing newer technologies is essential. How do you achieve this?
Very early on we realized that in India we didn’t have the required technological base for IVD solutions. Hence, 12 years ago we started acquiring European and American companies with a strong technological base. In these 12 years, we have acquired six companies that have been working with our India R&D teams and developing newer technologies.
3. Transasia has the largest customer base in India with over 70,000 installations. How do you provide prompt after-sales technical services to them?
Transasia was born with the purpose of providing prompt after-sales technical services. Today, we have the largest team of 700+ engineers who support customers in 5000+ cities and towns in India.
4. How did Transasia aid its customers during the pandemic?
All our employees believe that our ‘purpose’ is to help Doctors take care of patients. We always put ‘India First’. One example is how our 700 sales and service engineers continued to visit hospitals even during the lockdowns. None of our five factories stopped manufacturing the required instruments and test kits. Even in the thick of lockdowns, Transasia set up Asia’s largest factory in Visakhapatnam to manufacture COVID test kits.
5. How critical have COVID-relief efforts been to Transasia’s culture?
The pandemic has provided us the opportunity to serve our countrymen in many ways:
Aiding state governments
In the company’s largest humanitarian relief effort, over 2500 critical machines such as BiPAP, oxygen concentrators, blood cell counters, and coagulation analyzers have been donated by Transasia to Govt. hospitals, especially in the smaller cities.
The Affordable Oxygen Concentrator rental program launched in partnership with AMTZ, Atal Innovation Mission (AIM), and Uber enables patients to get delivery of oxygen concentrators at a nominal rental cost, through a specially designed mobile app - O2Home.
Medicine donations to NGOs, government, and mission hospitals
Transasia donated over 5 lakh tablets towards the recovery of COVID patients and mitigating the widespread human impact of the pandemic.
6. How future-ready is Transasia?
Up to 2023, Transasia’s R&D labs in France, UK, US, Austria, and India will launch over 10 state-of-the-art analyzers in CLIA, molecular, high-end hematology, AI, and LIS. Also in the offing is a ‘Total Lab Automation’ solution aimed at mid- and large-size laboratories. All these will make Erba-Transasia among the top-five companies globally to have ‘Total solutions in Laboratory.