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Cura eyes buyouts & set to accelerate growth with eZono 4000 needle guidance system

Nandita Vijay, Bengaluru
Wednesday, October 22, 2014, 08:00 Hrs  [IST]

Cura Healthcare, a leading Indian medical technology company, is looking to fuel its growth with via the inorganic route. This follows its $6 million fund infusion from private equity firm Peepul Capital in June this year. The company is set to accelerate its revenues with its newly launched eZono 4000 which is a needle visualisation in local anesthesia and vascular access or nerve block in pain management.

Though there are systems available for ultrasound guided needle visualisation, the Chennai-based company stated that the product is a first-of-its-kind in the local anesthesia segment with Capacitative touch panel, cue cards, improved image quality, wherein even needle tip can be seen.

The company has received a total fund infusion of $15 million from Peepul Capital. Four years ago it received $9 million and then in June this year it received an additional $6 million. The investor currently holds the majority stake in the company.

“We are looking to expand into nuclear medicine, utilise radioactive substance as a medicine and in healthcare IT. The company is looking at acquiring a device maker with wide market coverage in the country. The acquisition is expected to cost about $8 million”, M Balasubramaniam, chief executive officer, Cura Healthcare told Pharmabiz.

It took 3 years to develop the technology and Cura has been improvising eZono 4000. Unlike other machines available, eZono 4000 does not use ultrasound for imaging. Its eZGuide is a freehand navigation technology allowing specialists to visualise the needle tip position in ultrasound guided procedures. Usually anesthesiologists are not adept with ultrasound use but now eZono4000, is easy to use, robust and portable. At present Cura is the exclusive channel partner for eZono in India, he said.

The other products of the company include Direct Digital Radiography systems, installed at leading corporate and government hospitals. It bagged repeat orders from Tamil Nadu government for digital radiography systems which establishes product superiority and service capabilities. The Mobile CR, No Power x-ray and other HF x-rays under development would be introduced soon, said the Cura chief.

With the Indian healthcare market growing at 15-18 per cent per annum, Cura is now gearing up to invest on technologies, infrastructure expansion and enhancement of quality services. Even private equity investors are upbeat about the Indian healthcare industry. A visible trend is that global technologies have no lag time for an India launch and this regardless of price structure. Though Indian medical device companies have a large import component, the emergence of indigenous players is gaining momentum. Customised technologies are seen to be visible because healthcare providers are looking for value- added services, he noted.

A big challenge is the brand acceptance and this is primarily because the Indian healthcare space has been much dependent on the imported equipment, said Balasubramaniam.

 

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