Omega Diagnostics inagurates green-field manufacturing facility in Pune
Supports the ‘Make in India’ campaign for the benefit of the Indian healthcare sector
Omega Diagnostics Group PLC a Scottish based company today inaugurated their first green-field manufacturing facility at the International Biotech Park, MIDC Phase II, Rajiv Gandhi Infotech Park, Hinjewadi, Pune. With an investment of USD 0.9m, the company estimates that it could be employing up to 50 people, including high quality positions in production management and technical/ Quality Control roles in the next 12 months.
Omega’s facility in Pune will initially concentrate on two rapid diagnostic tests (RDT)
- Visitect® CD4 - licensed from the Burnet Institute (“Burnet”) in Melbourne, Australia. Visitect CD4 is used for staging and monitoring HIV patients
- Visitect Malaria
These high-quality, cost-effective point-of-care diagnostic tests are aimed to improve access, especially for rural patients, and to reduce patient loss to follow-up in India.
Speaking on this occasion, Mr Andrew Shepherd,CEO, Omega Diagnostics Group PLC said, "Having been active in India since 1992, and with the Indian healthcare market growing rapidly over recent years, the move to establish a manufacturing base in India is a logical and exciting step forward for Omega Diagnostics Group PLC. Building on the establishment of our sales and marketing office in 2011 we see the potential for major growth, not just in the Indian domestic market but also the opportunity to export products produced in Pune to our global distribution network which covers over 100 countries."
Rooma Kr. Bussi, Country Director Scottish Development International India, also present at the event said, “India is a significant growth market for Scotland, and we see tremendous potential for Scottish companies to achieve product cutsomisation and efficiencies by manufacturing in the country. Healthcare is a priority sector for India and Scottish companies are capable of offering innovative and cost effective solutions most suited to the Indian market. I am delighted with this investment by Omega and keen to see more Scottish companies supporting the PM’s investor focussed ‘Make in India’ campaign. I am sure Scotland and India can collaborate on a much higher scale to boost the overall economic growth of both countries.”
Omega Diagnostics currently employ 19 people in India including representatives based in the main metropolitan cities. It has a warehouse for distribution of products across India with sub-distributor network of over a 100 distributors offering technical and customer service support to the Indian market.
Omega Diagnostics Group PLC is a UK based company, quoted on the Alternative Investment Market (“AIM”) of the London Stock Exchange. Omega provides high quality in vitro diagnostics products for use in hospitals, blood banks, clinics and laboratories in over 100 countries and specialises in the areas of food intolerance, allergy and autoimmune and infectious diseases.
Omega was first formed in 1987 and has grown organically and by acquisition since listing on AIM in 2006. For the most recent year ended 31st March 2015, group turnover was £12.1m which generated an adjusted profit before tax of £1.4m.
Omega has been selling products into India since 1992, firstly through a subsidiary of GSK (a UK-based global healthcare company) until 2007, after which, it was acquired by Thermo Fisher Scientific Inc. (“TFS”). Omega continued to supply products into India through TFS until 2011, at which point they established a direct presence with a registered office facility at Mumbai.
About Scottish Development International
Scottish Development International is a joint venture between Scottish Government and its economic development agencies, Scottish Enterprise and Highlands and Islands Enterprise. SDI helps overseas businesses tap into Scotland’s key strengths in knowledge, high level skills, technology and innovation. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live and work. Its work is guided by the Scottish Government’s strategy for economic development in Scotland. In Asia, SDI has offices in Beijing, Shanghai, Hong Kong, New Delhi, Mumbai, Hyderabad, Tokyo, Seoul, Taipei, Singapore and Sydney.
For further information, please contact:
Misha Bajaj, Scottish Development International
Misha.Bajaj@scotent.co.uk / +91 98101 54457