The medical device startup Poly Medicure (Polymed), which raised Rs 1,000 crore through a qualified institutional placement, is now looking into capital expenditure (capex) and technology acquisitions.

The managing director of Polymed, Himanshu Baid, stated that an additional Rs 250 crore will be utilized for general corporate reasons and that the remaining Rs 250 crore has been set aside for acquisitions, mostly in the technology sector.

We are keeping it open for now since we operate in a global market. We will look for companies offering technology where we can scale up the business, "Baid said.

Therefore, half the money raised is being deployed for new capex, which will begin now and be completed by the end of 2025-26,” Baid added.

According to Baid, the medtech sector requires a few years to mature, including a year and a half for clinical trials and regulatory clearances after a new factory is established. Since this necessitates significant investments, acquisitions provide a quicker path to growth.

We operate in six core therapies: infusion therapy, vascular access, transfusion systems, cardiology, critical care, and renal diagnostics. In each core category, we plan to add two to three new products every year,” Baid further added.

“The company is also concentrating on growing its product line and expanding its portfolio. "Infusion therapy, vascular access, transfusion systems, cardiology, critical care, and renal diagnostics are the six key therapies in which we work. We intend to launch two to three new goods annually in each main area, according to Baid.

Polymed is augmenting its research and development expenditures in order to expedite the launch of novel products. In addition, the corporation intends to grow in the three or four industries that it has recently entered, including renal diagnostics, cardiology, and critical care. To increase its footprint, this growth will be on the production side.