Categories: Press-Releases

LordsMed Launches advanced Multidisciplinary 20,000 sq. ft. IVD Manufacturing Facility at Vasai Near Mumbai

[ad_1]


LordsMed, the global healthcare division of Lord’s Mark Industries, has launched its IVD manufacturing facility at Vasai near Mumbai. Spread over 20,000 sq ft area, the IVD manufacturing facility is equipped with state-of-the-art technologies and infrastructure of global standards and will manufacture a diversified range of IVD and point of care diagnostic solutions such as analysers, reagents for clinical biochemistry, haematology, serology, immunology, rapid testing kits (ICMR approved antigen kit) and lab consumables.


 




Mr. Sachidanand Upadhyay, Founder, Lord’s Mark Industries Pvt. Ltd.


 


The manufacturing facility has the capability to facilitate 1.7 crore diagnostic tests a month including bio chemistry, haematology, serology, rapid test and urine strip tests. LordsMed has plans to further scale up the capacity by investing Rs. 33 crores more in future.


 


With this advanced IVD manufacturing facility, LordsMed plans to facilitate backward integration, reduce import dependence and build self-reliance in procurement as well as foray into the OEM market. The larger goal of Lord’s Mark Industries is to emerge as a global leader in IVD manufacturing and export by rolling out quality IVD solutions at a reduced cost.


 


LordsMed is in talks with pharmaceutical companies for OEM opportunities and plans to explore more opportunities both in the domestic and international markets. The company aims to go for R&D collaborations for developing rapid test kits as well.


 


LordsMed has recently partnered with a Singapore-based diagnostics kit manufacturer Sensing Self to manufacture its diagnostics solutions. The full-fledged manufacturing for Sensing Self will begin soon after the completion of the due diligence process. LordsMed is also in discussion with a few prominent distributors in Africa to export IVD solutions to the key markets of that region.


 


In India, the company will leverage its existing distribution channels to sell its manufactured products such as private and public hospitals, pathology labs and retail establishments. The company has developed a stronghold in B2G segment and aims to target B2B and B2C segments to capture the broader demand spectrum for IVD kits.


 


Commenting on the launch of IVD manufacturing facility, Sachidanand Upadhyay, Founder, Lord’s Mark Industries Pvt. Ltd. said, “The launch of the state-of-the-art IVD manufacturing facility draws inspiration from the government’s vision and continued efforts to make India a global medical device manufacturing hub. The pandemic has opened up a huge market opportunity for IVD and point of care diagnostics solutions. With our IVD manufacturing facility, we are working towards capturing the growing demand for such test kits both in India and across the globe. We are also open to collaborate with pharmaceutical or healthcare companies willing to venture into the point of care diagnostics segment in a cost-efficient manner. The manufacturing facility in Vasai lays the foundation for our journey to become a global leader in IVD manufacturing and export. We look forward to building manufacturing partnerships to achieve collaborative growth and make India a global destination for IVD solutions manufacturing.”


 


About Lord’s Mark Industries


Incorporated in 1998, Lord’s Mark Industries Private Ltd. (Lord’s) started manufacturing computer continuous stationery and copier paper and slowly diversified to other segments viz; Renewable Energy, Electric Vehicles, Diagnostics and Hygiene, products. Growth through diversification has been the cornerstone of success at Lord’s.

[ad_2]

Source link

NewsVoir

Recent Posts

Share repurchase programme

[ad_1] Nørresundby, 26 April 2024Announcement no. 23/2024 The Board of Directors of RTX has, cf. company announcement no. 20/2023 dated…

5 days ago

Gyroscope Market Size, Share And Growth Analysis For 2024-2033

[ad_1] Gyroscope Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Gyroscope Global…

5 days ago

Casting Off the Caste System and its Stigma: Empowering the Forgotten Indigenous People of India with Human Rights

[ad_1] ODISHA, India, and LOS ANGELES, Calif., April 25, 2024 (SEND2PRESS NEWSWIRE) — In the 1880s, to call attention to…

5 days ago

Alipay+ Enables Digital Payment of 14 Overseas E-wallets from 9 Countries and Regions in Hong Kong to Support City’s Global Travel Drive

In support of Hong Kong's new mega tourism and commerce drive, Alipay+ now enables users of 14 leading overseas mobile…

5 days ago

Celebrate "Bleach: Brave Souls" Reaching Over 90 Million Downloads Worldwide with "The Future Society Zenith Summons: Cyber" Featuring New Versions of Ulquiorra, Orihime, and Nnoitora

[ad_2] TOKYO, April 26, 2024 /PRNewswire/ -- KLab Inc. announced that its hit 3D action game Bleach: Brave Souls has…

5 days ago

TransAlta Declares Dividends

[ad_1] CALGARY, Alberta, April 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TransAlta Corporation (TSX: TA) (NYSE: TAC)…

6 days ago