Fischer Medical Ventures Ltd (FMVL) has made a significant breakthrough by manufacturing the first indigenous magnetic resonance imaging (MRI) systems in India. This landmark achievement positions FMVL as a pioneer in reducing the country’s dependence on imported medical devices, a sector where 80-85% of equipment is sourced from abroad, contributing to an import bill exceeding Rs 63,200 crore.
Fischer MVL’s indigenous MRI systems are being developed at their production facility in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam. AMTZ, recognized as India’s premier medical technology park, offers a conducive environment for production, complete with advanced facilities and a skilled workforce. This strategic location has enabled Fischer MVL to leverage local resources and expertise effectively.
In addition to their groundbreaking work in MRI systems, Fischer MVL is exploring acquisitions and investments to expand its portfolio in medical imaging and medical technology. The company is particularly interested in high-tech ventures, including those producing CT scanners, X-ray equipment with AI-powered solutions, teleradiology solutions, and advanced diagnostics. This expansion aims to diversify Fischer MVL’s offerings and enhance their diagnostic solutions market presence, covering a wide range of point-of-care services.
“By embracing innovation, we seek to equip healthcare providers with the tools necessary for timely and accurate diagnoses, ultimately enhancing patient care and outcomes,” said Ravindran Govindan, Group Chairman and CEO of Fischer MVL. Govindan, with over 45 years of experience, and Shankar Varadharajan, the Chief Operating Officer with a distinguished career in investment banking and strategic leadership, have been instrumental in steering the company towards this new chapter.
Fischer MVL’s recent public listing on the Bombay Stock Exchange (BSE) in December marks a significant milestone in the company’s journey. The listing is a testament to their commitment to growth and leadership in the medical imaging and MedTech industry in India.
As Fischer MVL continues to innovate and expand, their efforts not only promise to reduce India’s reliance on imported medical devices but also pave the way for more accessible and advanced healthcare solutions within the country. This achievement is poised to set a new standard in the Indian medical device industry, fostering a self-reliant ecosystem and enhancing the overall quality of healthcare services.
