Hindustan Latex ties up with Rajiv Gandhi Centre for Biotechnology

Thiruvananthapuram, Oct 21 : City-based healthcare products manufacturer Hindustan Latex Ltd (HLL) has entered into a tie-up with the Rajiv Gandhi Centre for Biotechnology (RGCB) to set up a technology business incubator, a company official said here Tuesday.

The HLL spokesperson told IANS the agreement for setting up the incubator at the RGCB in Thiruvananthapuram to carry out research work was inked last month.

HLL, a mini-ratna company, achieved turnover of Rs.2.44 million during 2006-07 and it has set a target of Rs.10 billion by 2010.

In August this year, the ministry of health and family welfare handed over nearly 300 acres to HLL at Chengalpet, about 45 km from the Chennai airport, for setting up a medical equipment park and vaccines project.

"The 'MediPark' is envisaged to be an integrated manufacturing facility complex of international standards in the field of healthcare. The MediPark shall comprise manufacturing industries for medical diagnostics, equipment, disposables and devices. The complex will also house for knowledge and healthcare business outsourcing services," said the HLL spokesperson.

The development and management of the park is proposed to be undertaken through public-private partnership (PPP) model.

HLL's infrastructure development division is currently involved in setting up and up-grading various hospitals across the country.

The central government has also appointed HLL as the internal consultants for setting up six institutes similar to the All India Institute of Medical Sciences in various parts of the country.