Larsen & Toubro to sell medical equipment business to Skanray Healthcare
16 Nov 2012
Engineering giant Larsen & Toubro (L&T) today said that it will sell its Mysore-based medical equipment business to privately-held Skanray Healthcare.
The move comes two months after the Mumbai-based company agreed to sell the entire stake in its wholly-owned unit L&T Plastics Machinery Ltd to Japan's Toshiba Machine Co, for an undisclosed sum.
L&T also did not disclose financial details of the medical equipment transaction, but said in a short filing with the Bombay Stock Exchange, "L&T has agreed to sell its medical equipment business based at Mysore to Skanray Healthcare Pvt Ltd."
The sale is in line with L&T's strategic road-map to exit non-core businesses and rationalise its portfolio.
L&T's Medical equipment & services, part of its electrical & automation unit, was established in 1987.
It sells products like patient monitors, ECG machines, syringe pumps, anaesthesia delivery systems, ventilators, defibrillators, cardiac resuscitation systems, ultrasound and colour Doppler imaging, X-ray and C-Arm image intensifiers, hospital turnkey projects, telemedicine solutions and speciality ambulances.
Based in the historical city of Mysore, Skanray is an international medical equipment manufacturing company and specialises in high frequency X-Ray imaging systems, critical care devices and primary healthcare & telemedicine compatible devices.