TTK HEALTHCARE BUYS ORTHOPAEDIC IMPLANTS BUSINESS OF INVICTA MEDITEK FOR RS 4 CRORE

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The Rs 220-crore BSE-listed TTK Healthcare has bought orthopaedic implants business of Invicta Meditek for Rs 4 crore. With a cash reserve in excess of Rs 20 crore, the company is further scouting for acquisitions in the implantables segment, mainly those engaged in manufacture of hip replacement parts and stents, said TTK Healthcare senior VP K Shankaran. Apart from medical devices, TTK Healthcare manufactures OTC pharmaceutical drugs and gynaecological products. It also distributes condoms manufactured by sister concern TTLLIG. The company is targeting a 20% growth this fiscal. Its turnover for the year ended March 31, 2009, stood at Rs 220 crore.

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