Aircraft Medical signs agreement for Hansraj Healthcare Pvt. Ltd to market and distribute the McGRATH® Series 5 in India (Press Release)
Posted on Fri 26th June 2009
EDINBURGH, June 26, 2009 - Aircraft Medical, the UK medical devices company, today announces that it has signed a five year exclusive agreement with Hansraj Healthcare Pvt. Ltd to market and distribute the McGRATH® Series 5 Laryngoscope, the world’s first fully portable video laryngoscope, in India.
Hansraj has more than 75 years experience in selling medical devices in India and has an existing specialist sales team in place with strong relationships with anaesthesia and critical care specialists. Headquartered in Mumbai, Hansraj has branch offices and warehouses in New Delhi and Chennai, and representatives in every major Indian city.
Under India’s National Health Policy, total healthcare expenditure is set to rise from US$45.7 billion in 2009 to US$60.9 billion by 2012. Several favourable factors such as economic growth, free market environment, a developed industry and investment in health infrastructure are driving increased demand for high quality medical devices. The Indian market for medical devices was valued at US$2176 million in 2009 and is expected to reach US$4944 million by 2012, a growth rate of approximately 120% over three years.
The launch in India represents another step in the internationalisation of the McGRATH® Series 5 and follows on from the successful launch of the product in a number of international markets since 2006. Aircraft Medical will be announcing further international launches during the course of 2009.
David Bowie, Head of Sales & Marketing, Aircraft Medical, said: “The launch of the McGRATH® Series 5 in India represents a significant opportunity for Aircraft Medical. With steady growth in GNP, population numbers and standard of living, India represents one of the most promising markets for medical devices. In Hansraj, we have a dynamic partner with the capabilities and specialised knowledge to commercialise the McGRATH® Series 5 and we look forward to recording our first sales in this territory in the near future.”
Sadhna Nayyar, Managing Director of Hansraj, commented: “The McGRATH® Series 5 compliments the existing market leading products in our portfolio. Furthermore, our sales representatives have relationships with all anaesthesia and critical care clinicians in India. India is an attractive market for global medical device companies, the healthcare market in India is developing rapidly with healthcare funding available from both government and private institutions. We look forward to leveraging our unique relationships with key decision makers in all major government, private and military medical institutions to develop the market for Aircraft Medical’s products in India, and establish the McGRATH® Series 5 as the benchmark for excellence in airway management.”
Background
Aircraft Medical is the manufacturer of the McGrath® Series 5, the world’s first fully portable video laryngoscope. Its compactness, and a cable free design, means the life saving benefits of video laryngoscope technology can fit in the pocket of a paramedic or mobile user. As a result, it is immediately available for use in potentially life threatening cases. The McGrath® Series 5 is leading the growth of the portable video laryngoscope market with distribution in North America, Europe and Australasia. Matt McGrath, Aircraft Medical’s CEO, was last year named “Young Scot of the Year” by the Institute of Contemporary Scotland in recognition of the invention of McGrath® Series 5 and its advancement of healthcare and subsequent international success.