SINGAPORE and HONG KONG, Sept. 30 /PRNewswire-Asia/ -- -- To inaugurate a new facility to ramp up production capacity for its biological safety cabinets, which are widely used in hospital laboratories across China -- To launch new proprietary healthcare diagnostic products for clinical diagnostic and blood banking markets in PRC -- PRC healthcare laboratory market to become another major growth driver for the Group's in the coming year
SGX Main board-listed Techcomp (Holdings) Ltd ("Techcomp", or the "Group"), one of China's leading manufacturers and distributors for healthcare, scientific and life science instruments, has announced plans to expand its market presence in the PRC healthcare laboratory market.
This follows the huge success of its manufacturing division involved in the production of the biological safety cabinet, which was widely used in the hospital laboratories across China. The Group has plans to inaugurate a new facility to ramp up its production capacity in October 2010.
"Our expansion into the manufacturing of the biological safety cabinet was a huge success. To date, our existing production facility is running at 90% utilization rate and enquiries are still coming in. We are expanding our production capacity to cater to the next phase of growth in the PRC."
"The Group obtained ISO13485 last year for the development and production of our healthcare laboratory product. This certification recognizes our achievement on quality management system for medical devices. We are looking to build on this platform to expand our market share in the PRC healthcare laboratory market."
Richard Lo, President & CEO of Techcomp
In addition, the Group will be looking to invest more into the research and development activities for new proprietary products. It is also committed to more investments to enhance stringent quality control program. It will also look to enlarge the product offerings to its customers to expand its market share in the PRC healthcare laboratory market.
New proprietary healthcare diagnostic products in the pipeline
The Group will be launching its new line of healthcare laboratory micro- plate reader and washer, Virto Diagnostic which will be CE marked and will obtain the medical license for the PRC market in the coming months. These new products are widely used for clinical diagnostic tests.
The Group is also developing a proprietary Automatic Immunoassay System which is used for the clinical diagnostic market as well.
The Group's French subsidiary is also finalizing the prototype for a healthcare product for the blood banking preparation market and plans are in the pipeline to launch the new product by early 2011.
These new products will enlarge the Group's product offering to its customers and enable the Group to provide a diversified product portfolio to its end-users in the PRC hospitals and health care industry.
To establish a new division to focus on PRC healthcare laboratory market
According to a Deutsche report dated 25 August 2010, the PRC medical device market is worth approximately USD 26 billion in 2010, reaching USD 62 billion by 2015. The diagnostic market alone was estimated to be USD 4.4 to USD 5.9 billion and the IVD market to be around USD 1.8 billion in China.
The report also highlighted that China medical equipment market is highly fragmented with over 13,000 manufacturers with intense competition among domestic manufacturers in the low-end equipment market, while global players dominated the high-end market. Techcomp with its strong foreign alliance in R&D capabilities and domestic manufacturing capacity is well positioned to capture more market share in the mid-high tier market.
Therefore, the Group plans to further establish a separate division in its sales channel for the healthcare laboratory market as the management believes that this will become another important growth driver for the Group in the coming years.
"As part of its overall rural healthcare reform, the PRC government will be constructing 2,000 country-level hospitals, 29,000 township clinics, 2,400 community healthcare centers and to upgrade 5,000 township clinics and 3,700 community healthcare centers by 2011. I believe this will boost demand for healthcare and medical equipment, which will benefit Techcomp in the long run."
"Our extensive and well-established distribution networks with the PRC hospitals will enable us to cross-sell more products and propel our growth forward in the coming years."
Richard Lo, President & CEO of Techcomp
About Techcomp (Holdings) Limited
Backed by a strong research team, Techcomp (Holdings) Limited ("Techcomp") is one of China's leading manufacturers of highly advanced healthcare and scientific instruments, with cutting edge technological patents in scientific instruments, life science equipment and healthcare laboratory instruments.
The Techcomp brand of analytical instruments is used in laboratories for diverse industries, ranging from materials analysis and testing to pharmaceuticals, biotechnology, medicine, food and beverage, and to forensics.
Techcomp has a strong R&D track record and is an original design and original equipment manufacturer for the world's leading brands of analytical instruments used in research and test applications. Techcomp's strong distribution network for a wide range of the world's leading brands of highly advanced analytical equipment is predominantly in China.
For more information, contact Mark LEE, Email: [email protected] Kamal Ryan SAMUEL, Email: [email protected],sg Tel: +65-6438-2990 Fax: +65-6438-0064
SOURCE Techcomp (Holdings) Limited