Apex Medical Corp, a $75-million company in Taiwan is initially investing 100 crore in Indian healthcare market which the company believes it is the right time to invest in India. The reason for choosing India as its first country was given by Daniel Lee, CEO, Apex Medcial Corp who said “Why we chose India as the first country in South Asia for our foray is because it has a huge population and a new government that is willing to make a big change.” 100 per cent FDI for Medical Devices proves the willing to change.
READ ALSO: Why Invest in India?, Assessment of Indian Market.
The Indian Healthcare Market is growing at 12 – 15 per cent a year and the Make in India campaign by the new government under Prime Minister Narendra Modi is catching the eye of all medical manufacturers so as Apex Medical Corp. They will market quality and affordable equipment and launch their products in the field of respiratory therapy, such as asthma and sleep apnea and said they were excited about the Indian market.
READ ALSO: Stunning First Visit PM Modi in the US: What it means to the Life Science Sector
Regarding the company’s plans to manufacture in India, Daniel said, “we will start to initially bring from Taiwan and once we know how Make in India takes off we will make it here”. “On research and development we are investing 5 per cent of annual revenue and the products are distributed to US, Europe and other markets through subsidiaries and partners.” he added.
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