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X-ray report

Make in India vs having made it in India: Skanray’s peculiar struggle

Make in India should come as good news to this indigenous medical equipment manufacturer. But it only adds to the various challenges it's already facing in the market. Skanray shook up the industry with its massive L&T acquisition in late 2012 - today, though, with dipping revenue and a changing market, it's not looking so good

29/08/19

Suraksha P

Mysuru-based Skanray spent its initial years from 2007 to 2011 in R&D

More than a decade later, a slew of acquisitions later, its revenue today stands at Rs 220 crore. There's been a significant fall

The Indian medical device market is dominated by MNCs, trading companies and aggregators

With a credit crunch, Skanray's being forced, against its DNA, to avoid bank debts and embrace PE to get working capital

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Earlier this month, Niti Aayog, the Indian government’s think tank, held a high-level meeting, with the secretaries of all stakeholder ministries—including the Ministry of Health—present. The agenda was simple.

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