Skanray buys Pricol's health business

Mysore-based medical equipment manufacturing company Skanray Technologies has acquired the healthcare business of Coimbatore-based Pricol Engineering Industries.

It had earlier acquired the healthcare business of L&T and later renamed Skanray Healthcare, and retained as a separate strategic business unit (SBU).

The new buy will give the company entry into the respiratory segment.

Vishwaprasad Alva, MD of Skanray, said, "This is strategically a very important transaction for us as it increases our strength in the respiratory segment, with the addition of ventilators to our portfolio."

"With this addition, we will be able to offer complete

ICU packages for hospitals and be a single point contact for Supply, Custom solutions and life cycle management of all its equipment in the ICU," he added.

Alva told Business Standard that it has adequate growth funds to serve investment purposes. Ascent Capital is said to be investing up to Rs 100 crore ($14.75 million) in Skanray Technologies in various tranches.

Skanray Technologies and Skanray Healthcare have about 12 USFDA-approved products are planning to have many of their new products compliant with European and US safety and performance standards,the company said.