Chennai: India's first medical technology park opened recently is expected to bring cutting-edge technology to the country and drive down the cost of expensive equipment like ultrasound machines.

Spread over 25 acres and designed to house 10 international medical technology manufacturers, the Trivitron Medical Technologies Park aims to bring cutting edge medical technology to medical professionals at affordable costs.

"This is a captive park for medical devices manufacturers who sign up a joint venture agreement with us. In all, around 10 medical devices manufacturers will house their production facilities involving an outlay of around Rs.250 crore," Trivitron Group founder and managing director G.S.K.Velu told the sources here recently after the inauguration.

He said the Trivitron group has inked five medical devices manufacturing joint ventures till date and the park's first occupant Aloka Trivitron Medical Technologies is one such venture to manufacture ultrasound machines, high end colour dopplers and advanced imaging systems.

The other joint ventures - with Brandon Medical, UK, ET Cardioline, Italy, Johnson Medical, Sweden and Biosystems, Spain - are expected to start their production from the park soon.

"Our investment in the joint ventures will be around Rs.150 crore and the stake holding in companies will be a mix of majority and minority," Velu added.

While Trivitron holds 49 percent stake in Aloka Trivitron Medical, Velu said in the remaining four ventures, the holding will be majority stake.

A range of products will be manufactured at the park. These include ultrasound systems, colour dopplers, X -ray machines, C-arms, in-vitro diagnostic reagents and instruments, cardiology diagnostic instruments, critical care instruments, modular operating theatres, operating theatre lights and tables and implantable medical devices.

Inaugurating the park, Tamil Nadu Deputy Chief Minister M.K.Stalin said, "The medical devices park is yet another feather in the cap of the state's healthcare system. The state is the leader in healthcare delivery in the country." IANS