Poly Medicure Limited (Polymed)

Poly Medicure Limited (Polymed) is an Indian manufacturer of medical devices.

History

2024: Localization plan in Russia for the production of hemodialysis products for 3 billion rubles

The Russian Direct Investment Fund (RDIF) and Poly Medicure Limited (Polymed), an Indian company in the production of medical devices, have agreed on a partnership to localize the production of hemodialysis products in Russia. The volume of investments in the project by RDIF and partners will amount to 3 billion rubles. The corresponding announcement was made on the eve of the official visit of Prime Minister of the Republic of India Narendra Modi to the Russian Federation. This was announced on July 8, 2024 to the medical portal Zdrav.Expert by representatives of the RDIF.

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Poly Medicure Limited

As of July 2024, Polymed has a large production base in India, as well as in Italy, China and Egypt for the production of medical devices with a production volume of up to 3 million units daily. The company sells its products around the world, the plants are certified by leading regulators. Polymed products are also used in surgery, gastroenterology, cardiology, in the treatment of renal, oncological diseases and in many other areas of medicine.

According to Kirill Dmitriev, CEO of RDIF, Polymer's hemodialysis products localization project is aimed at reducing [Import of medical devices into Russia|[import]] consumables and components, developing the Russian production base and speeding up supplies to medical institutions.

"RDIF successfully interacted with Indian pharmaceutical companies during the period: coronavirus pandemic India became the largest hub for foreign production, Russian vaccine Sputnik which protected the health of millions of people," said Kirill Dmitriyev the CEO of the Russian Direct Investment Fund (RDIF).

He also added that the fund is actively expanding joint investments with partners from India in the pharmaceutical and medical industry with the aim of making treatment available and improving its quality for patients across the board. to the country

In general, the Russian Direct Investment Fund has successful experience in implementing more than 100 projects with foreign partners with a total volume of over 2.2 trillion rubles (as of July 2024). The portfolio companies of RDIF, whose annual revenue in 2023 exceeded 14.5 trillion rubles (8.5% of Russia's GDP), employs more than 1.3 million employees.