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UE Lifesciences plans expansion drive in India- 18-Sep-2011
New Delhi: US-based medical device-maker UE Lifesciences Inc today said it is embarking on an expansion drive in India and hopes to install its breast cancer screening machines in about 500 clinics across the country over the next three years.
'We plan to install our 'no-touch breastscan' machines in 500 clinics across the country in the next three years' UE LifeSciences Inc Founder and CEO Mihir Shah told. 'The model for business that we are looking at is a revenue sharing model, instead of selling the machines upfront. We have the ability to track all scans done by our machines' he added.
The company presently has machines at four clinics in the country at Apollo Hospital, Ahmedabad; Magnolia Breast Clinic, Pune; BEAMS Hospital, Mumbai; and Aasha Cancer Hospital, Thane, and in collaboration with drug major Cipla, plans to install over 20 additional machines in the near future.
The company also has plans to set up a manufacturing facility in India, as at present, all its machines are imported. 'Within 18 months or by the time we have 50-plus installations in India, we plan to set up a manufacturing facility near Mumbai, or possibly Pune. Investment will be to the tune of USD 1.5 million, including OEM parts and labour' Shah said.
As of now, a single test costs between Rs 800 to Rs 1,000, but the amount will come down as more machines are installed, UE Lifesciences said. On the reasons for the company's expansion plans in India, Shah said: 'The Indian scenario now and for a long time to come will remain bad as far as breast cancer is concerned. More lives are claimed by breast cancer in India than in any developed country'.
'In terms of tie-ups, we are in conversation with most key players in the Indian healthcare and wellness industry as well as the government of India' he added. 'The peak risk age for breast cancer in India is between 43-46 years, which is 10 years younger then in Western countries' he added.
The technology uses infra-red imaging and is painless, touch free and is particularly useful in the case of women where mammography results could be inconclusive because of dense breasts. 'In the next ten years, more then 1 million women will be diagnosed with breast cancer and half of them will succumb to the disease due to late stage detection' Shah said. The company has also planned outreach initiatives to educate women about breast cancer and the need for check-ups.
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