Tata Elxsi bags global services deal from Aesculap AG

The company has opened a dedicated Global Engineering Center (GEC) for Aesculap as part of the strategic multi-year engagement.

Tata Elxsi, a global design and technology services company, has been selected as the global engineering services partner by Aesculap.

Aesculap AG is a subsidiary of B. Braun, one of the world's leading manufacturers of medical devices and pharmaceutical products and services.

The GEC is part of a strategic multi-year engagement in the field of engineering services. The GEC serves as a platform of talent and expertise for product design & engineering, regulatory support and clinical evaluation services. This center will be essential to accelerate innovation, drive the transformation and growth for Aesculap's medical business.

Nitin Pai, chief strategy officer and CMO, Tata Elxsi, said: We are elated to be selected as a strategic partner of Aesculap. It is an absolute honor for us to be part of this journey in supporting Aesculap through our Global Engineering Center, bringing together integrated competencies in R&D and innovation, digital technologies, deep domain understanding of medical devices and ever-evolving regulatory standards. This further consolidates our position in the Medical Devices and Healthcare market in Europe, and strengthens our relationship with Aesculap and the B. Braun group.

Tata Elxsi is a provider of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.

The company's consolidated net profit jumped 58.4% to Rs 78.88 crore on 11.5% rise in net sales to Rs 430.18 crore in Q2 September 2020 over Q2 September 2019.

The scrip tumbled 4.39% to Rs 1585 on the BSE, extending losses for second consecutive session. The stock has lost 6.1% in two sessions while the benchmark S&P BSE Sensex added 0.3% during the same period.

Powered by Capital Market - Live News