MIRA INFORM REPORT

Report Date :

7^th June 2006

IDENTIFICATION DETAILS

Name :	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Registered Office :	118, Damji Shamji Industrial Complex, 9, LBS Marg, Kurla (West). Mumbai 400070. INDIA
Country :	India
Financials (as on) :	31.03.2005
Date of Incorporation :	28.09.2000
Com. Reg. No.:	11-128913
CIN No.: [Company Identification No.]	U33100MH2000PTC128913
TAN No.: [Tax Deduction & Collection Account No.]	MUME03722F
Legal Form :	Private limited liability company.
Line of Business :	Company is engaged in trading of Bio medical devices

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Maximum Credit Limit :
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established having mediocre performance. Profit margin is low. Trade relations are fair. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions with slight caution.

LOCATIONS

Registered Office :	118, Damji Shamji Industrial Complex, 9, LBS Marg, Kurla (West). Mumbai 400070. INDIA
Tel. No.:	91-22-25951445/ 5135169/ 55982205
E-Mail :	info@emergentindia.com
Website :	http://www.emergentindia.com

DIRECTORS

Name :	Anil Hebbark
Designation :	Director
Address :	15/603, Preniyot Complex, Mumbai – 400043, Maharashtra, India
Date of Appointment :	28/09/2000
Name :	Kishor Nagesh Padav
Designation :	Director
Address :	B-204, Carrara, Hiranandani Estatte, Godbunder Road, Thane, Mumbai 400607, Maharashtra, India
Date of Birth/Age :	20/05/1970
Date of Appointment :	28/09/2000
Name :	Harish Mundoor Rao
Designation :	Director
Address :	13/301, New Rachana Park, Manorama nagar,Thane, Mumbai – 400607, Maharashtra, India
Date of Birth/Age :	20/05/1970
Date of Appointment :	30/09/2000
Name :	Tushar Pritamlal Shah
Designation :	Director
Address :	1, Surachit Hsg. Soc. Opp. Gadkari Auditorium, Rammaruti Road, Thane, Maharashtra, India
Date of Birth/Age :	18/11/1942
Date of Appointment :	17/09/2005

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Mr. Anil Hebbar K.	54951
Mr. Kishore N. Padav	8449
Mr. Anil Hebbar K Mrs. Sunita A Habbar and Ms. Srushti A Hebbar	16864
Mr. Kishor N. Padav	5614
Mrs Dharini K. Sheth Mr. Ketan H Sheth	1688
Mr. Gururaja Hebbar K Mrs. Janaki Hebbar	1969
Mrs. Anita R. Bhat Mr. Ramchandra Bhat	1969
Mr. P. Srinivasan Poti Mrs. Radha Poti	1969
Mr. S N Kumar	2250
Mr. Ishan B Sinha	6750
Mrs. Vaihaynti V Shende Mr. Vishwanath N. Shende	1688
Mr. Vishwanath N. Shende Mrs. Vishwanath N. Shende	1688
Mr. Prasanna D. Deshpande Mrs. Vijaya Deshpande	2025
Mr. Sripati R Rao Mrs. Prabhavati S Rao	1688
Mrs. Latha R Bhat Mr. Ramesh Bhat	563
Mrs. Shobhna J Deshpande Mr. Jayant Deshpande	1688
Mr. Jayant Deshpande Mrs. Shobhna J Deshpande	1688
Mr. S K Bhat Mrs. Vimala K Bhat	2025
Mr. Prashant Bhat Mr. S K Bhat	1969
Mr. Mohanan G Namboodiri Mrs. Radhika Mohannam	113
Mr. D S Umalkar Ms. Anuradha Umalkar and Ms. Madhuvati Umalkar	4500
Mr. Omprakash Jaiswal	11250
Mr. Iqbal Kasim	9000
Mr. Bharat R Shah	11250
Mr. Kaushal B Shah	22500
Mr. Virendra Parelkar	225
Mr. C S Anandram	113
Mrs. Chandravati V K	2250
Mr. Harish Rao Mundoor Mrs. Rekha Rao	12094
Mr. Udipi R. Bhat Ms. Suchita Bhat	10688
Mr. Ajay M. Tambe	10688
Mr. J N Kayarkar	1688
Mr. K C Hariharan	1350
Ms. Jyoti S Vaiude Mr. Sandeep Vaiude	5625
Mr. Sunil Ballal	2250
Mr. Shaikh H Rafi	225
Mr. Urvashi P Naik	1125
Mr. Raju Thorat	113
Mr. K Vijaya Raghavan Mrs. Shanta Raghavan	4500
Mr. Arun Mehra	2250
Mrs. Madhura pande	1407
Mrs Vimla Bhat	1125
Mr. Vipul D Bhatt	2813
Mr. Aditya Kumar Singh	1125
Mr. Ajinkya Manohar	1407
Mr. Bademar Ravindra	113
Mrs. Janaki Gururaja Hebbar	113
Mr. Arvind Ballal	1125
Mrs. Geeta S Ballal	563
Mrs. Sushila N. Shende	113
Mrs. Meera P Murthy	1688
Mrs. Vasudha H Atre	1688
Dr. Samuel Mathew	28125
Miss Rithambhara Hebbar	1463

BUSINESS DETAILS

Line of Business :	Company is engaged in trading of Bio medical devices
Products :	Bio medical devices, Vascular , Intervention, Electro Physiology, Vascular Grafts, Ortho Diagnostic, Disposables, Dynek and Span Diagnistics

GENERAL INFORMATION

No. of Employees :

30

Bankers :

Ø IDBI Bank

Ø HDFC Bank

Ø Tamilnadu Mercantile Bank Limited, Goradia House, 1^st Floor

101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003

Ø Standard Chartered Bank

Ø Karnataka Bank Limited

Ø Citi Bank

Facilities :

Secured Loan	(Rs in millions)
IDBI Bank – Overdraft against fixed deposits	0.390
HDFC Bank – Term loan	0.000
Al Ameen Islamic Financial Corporation – Term loan	0.000
Tamilnadu Mercantile Bank Limited Cash Credit Against Stock	1.230
Tamilnadu Mercantile Bank Limited Overdraft against Book Debts	0.570
GE Capital Services India	0.550

Overdraft from IDBI Bank is secured against Fixed Deposit of the company mortgaged with the bank

Working capital finance from Tamilnadu Mercantile Bank Limited is secured against Stocks, Book debts, Fixed Assets and Gala No. 117 and 118 as collateral security.

Banking Relations :	-
Auditors :	Rao and Ashok Chartered Accountants Unit 111, 1^st Floor, Hiren Light Industrial Premises, 408, Moghul Lane, Mahim, Mumbai – 400016
Tel. No.:	91-22-56663042
Fax No.:	91-22-24474510
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs. 10/- each	Rs. 3.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
274385	Equity Shares	Rs. 10/- each	Rs. 2.744 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2005	31.03.2004	31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		2.744	2.439	1.686
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.536	1.846	0.934
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.280	4.285	2.620
LOAN FUNDS
1] Secured Loans		2.742	3.633	3.512
2] Unsecured Loans		7.499	2.592	4.298
TOTAL BORROWING		10.241	6.225	7.810
DEFERRED TAX LIABILITIES		0.122	0.100	0.077
TOTAL		14.643	10.610	10.507
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.605	2.580	2.662
Capital work-in-progress
INVESTMENT		0.256	0.864	0.907
DEFERREX TAX ASSETS
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.137	3.107
	Sundry Debtors	8.335	4.110
	Cash & Bank Balances	6.429	0.826	8.705
	Other Current Assets	0.000	0.000
	Loans & Advances	2.268	4.792
Total Current Assets		24.169	12.835	8.705
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	13.425	5.714	1.819
	Provisions
Total Current Liabilities		13.425	5.714	1.819
Net Current Assets		10.744	7.121	6.886
MISCELLANEOUS EXPENSES		0.038	0.045	0.052
TOTAL		14.643	10.610	10.507

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2005	31.03.2004	31.03.2003
Sales Turnover [including other income]	9.053	7.942	NA
Profit/(Loss) Before Tax	0.504	0.266	NA
Provision for Taxation	0.227	0.107	NA
Profit/(Loss) After Tax	0.277	0.159	NA
Import Value	1.402	NA	NA
Total Expenditure	8.548	7.676	NA

KEY RATIOS

PARTICULARS		31.03.2005	31.03.2004	31.03.2003
PAT / Total Income	(%)	3.06	2.00	--
Net Profit Margin (PBT/Sales)	(%)	5.57	3.35	--
Return on Total Assets (PBT/Total Assets}	(%)	1.81	1.73	--
Return on Investment (ROI) (PBT/Networth)		0.12	0.06	--
Debt Equity Ratio (Total Liability/Networth)		5.53	2.79	3.68
Current Ratio (Current Asset/Current Liability)		1.80	2.25	4.79

LOCAL AGENCY FURTHER INFORMATION

Fixed Assets :

Ø Office Premises

Ø Air conditioners

Ø Computer

Ø Furniture and Fixture

Ø Mobile Phones

Ø Demo Equipments

Ø Fax Machines and EPABX Systems

Ø Path lab Furniture

Ø Cooler and Deep Freezer

Ø Digital MultiMate

Ø Motorcar

Operation :

The operations during the year under consideration have resulted in a net profit of Rs. 0.133 millions and the same has been carried over to next year.

Outlook :

The company have taken significant to improve their long term prospects and profitability. They have given up the distribution of pacemakers from M/s Biotronik of Germany as the purchase cost shot du to the depreciation of the Indian rupees vis a vis the Euro resulting in lower profit. They have also tied up with the world’s leading pacemaker manufacturer M/s Medtronic for distribution of its products in the city of Mumbai which would contribute substantially to the turnover and profit in the coming years. M/s Medtronic being a fortune 100 company with its wide its product range., the company would have newer opportunities. The company is in the process of forming a joint venture with M/s Biomedidicon Systems India Private Limited to tap these opportunities. The surgical equipments business is improving and the company is in the process of obtaining a CE mark for the cantery machine, which will enable to export the machine. Negotiating are also on with Wipro GE Medical Systems to distribute their range of equipments in Mumbai. The pathology division has also consolidated its position.

Name of the company	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Presented By	Tamilnadu Mercantile Bank Limited, Mandvi Branch, Mumbai
1) Date and description of instrument creating the change	Letter of Hypothecation of dated 28^th July, 2004 Letter of Hypothecation of Book dents – loans dated 28^th July 2004 Both the agreements constitute a single charge.
2) Amount secured by the charge/amount owing on the securities of charge	FCL Rs. 2.000 millions only.
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of stock of Cardiology equipments and consumer like imported and external pacemakers etc. whether raw or in process of manufacture and all articles manufactured there from which now or hereafter from time to time during the continuance of this security shall belong to or be in the possession of under the control of the Borrower in whatsoever capacity and wherever in the possession of the borrower of the Bank or of any third party whether in India or elsewhere thorough the world (including all such goods as may be in course f shipment transistor delivery and also all shipping and other documents of title negotiable instruments, bills drafts bills of lading, policies of insurance) and other documents relating to such good together with the benefit of all right relating thereto shall be hypothecated to the Bank and its assigns by way of first charges. Hypothecation of all the borrowers present and future book debts, outstanding, moneys, receivables claims bills, contracts, security, investments, rights and assets (except property effectively otherwise hypothecation or charged to the Bank) shall be hypothecation to the Bank and their assigns by way of first charges.
4) Gist of the terms and conditions and extent and operation of the charge.	As per terms of the Bank
5) Name and Address and description of the person entitled to the charge.	Tamilnadu Mercantile Bank Limited Goradia House, 1^st Floor 101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable
Name of the company	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Presented By	Tamilnadu Mercantile Bank Limited, Mandvi Branch, Mumbai
1) Date and description of instrument creating the change	Letter of Hypothecation of dated 28^th July, 2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 1.000 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of all the borrowers present and future book debts, outstanding, moneys, receivables claims bills, contracts, security, investments, rights and assets (except property effectively otherwise hypothecation or charged to the Bank) shall be hypothecation to the Bank and their assigns by way of first charges.
4) Gist of the terms and conditions and extent and operation of the charge.	--
5) Name and Address and description of the person entitled to the charge.	Tamilnadu Mercantile Bank Limited Goradia House, 1^st Floor 101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable
Name of the company	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Presented By	Tamilnadu Mercantile Bank Limited, Mandvi Branch, Mumbai
1) Date and description of instrument creating the change	Letter of Hypothecation of dated 3/03/2003
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.500 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of stock of Medical Instruments whether raw or in process of manufacture and all articles manufactured there from which now or hereafter from time to time during the continuance of this security shall belong to or be in the possession of under the control of the Borrower in whatsoever capacity and wherever in the possession of the borrower of the Bank or of any third party whether in India or elsewhere thorough the world (including all such goods as may be in course f shipment transistor delivery and also all shipping and other documents of title negotiable instruments, bills drafts bills of lading, policies of insurance) and other documents relating to such good together with the benefit of all right relating thereto shall be hypothecated to the Bank and its assigns by way of first charges.
4) Gist of the terms and conditions and extent and operation of the charge.	Margin – 25 %
5) Name and Address and description of the person entitled to the charge.	Tamilnadu Mercantile Bank Limited Goradia House, 1^st Floor 101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003
6) Date and brief description of instrument modifying the charge	Agreement for demand cash credit on the hypothecation of movable properties dated 28/07/2004
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	By this modification, the present limit of Rs. 0.500 millions enhanced to Rs. 1.000 millions
Name of the company	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Presented By	Tamilnadu Mercantile Bank Limited, Mandvi Branch, Mumbai
1) Date and description of instrument creating the change	Letter of Hypothecation of dated 3/03/2003
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.500 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of stock of Medical Instruments whether raw or in process of manufacture and all articles manufactured there from which now or hereafter from time to time during the continuance of this security shall belong to or be in the possession of under the control of the Borrower in whatsoever capacity and wherever in the possession of the borrower of the Bank or of any third party whether in India or elsewhere thorough the world (including all such goods as may be in course f shipment transistor delivery and also all shipping and other documents of title negotiable instruments, bills drafts bills of lading, policies of insurance) and other documents relating to such good together with the benefit of all right relating thereto shall be hypothecated to the Bank and its assigns by way of first charges.
4) Gist of the terms and conditions and extent and operation of the charge.	Margin – 25 %
5) Name and Address and description of the person entitled to the charge.	Tamilnadu Mercantile Bank Limited Goradia House, 1^st Floor 101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable
Name of the company	EMERGENT MEDI – TECH (INDIA) PRIVATE LIMITED
Presented By	Tamilnadu Mercantile Bank Limited, Mandvi Branch, Mumbai
1) Date and description of instrument creating the change	Agreement of demand cash credit on hypothecation of movable properties dated : 16^th October, 2001
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.500 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of all tangible movable property such as product, stock in trade and goods of the borrower witch now or hereafter from time to time during this security shall be brought in, stored or be in or about the Premises warehouses or godowns of the Borrowers in 118, Damji Shamji Industrial Complex, 9 LBS Marg, Kurla W. Mumbai – 400070 or anywhere else.
4) Gist of the terms and conditions and extent and operation of the charge.	Nature of facility : cash credit (stock) Amount : Rs. 0.500 millions Intserest : 8 % p.a. above the Reserve Bank of India rate with a minimum of 15.50 % p.a. or at such rate or rates as the Bank may from time to time specify and Panel Interest : 2 % p.a. over and above the prevailing rate of interest shall be charged by the Bank on the Balance outstanding from the date of default till payment of the entire amount. Margin : 30 %
5) Name and Address and description of the person entitled to the charge.	Tamilnadu Mercantile Bank Limited Goradia House, 1^st Floor 101, 104 Kazi Syed Street, Mandvi, Post Box No. 3181, Mumbai – 400003
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable

AS PER WEBSITE

Emergent Medi -Tech (India) Private Limited is a marketing and distribution organization operating in the domain of cardiology and cardiac surgery.

Incorporated on 28th September 2000, Emergent Medi -Tech (India) Private Limited has, within a short time carved a niche for itself by introducing innovative products at the cutting edge of technology, enabling patients in India benefit from the latest advancements in this field.

Emergent Medi -Tech (India) Private Limited is promoted by Mr. Anil Hebbar and his associates, who have a deep understanding of the cardiology disposables business, having been involved in distributing these products for top Multinational Companies like Johnson & Johnson/Cordis, Guidant Corporation and Datascope Inc.

Emergent Medi -Tech (India) Private Limited is a sufficiently capitalized company headquartered in India's financial capital, Mumbai.

Emergent is currently distributing the Biotronik range of products in Western India under an arrangement with M/s. Interventional Technologies Pvt. Ltd., Mumbai. The Products distributed include Tenax and Teneo Stents, Expleo Balloons, Galeo Wires and the entire range of Pacemakers. They  also distribute vascular grafts & patches of Intervascular, a Datascope Company; Angio-Seal of St.Jude Medical and Contrast Media of Mallinckrodt.

Emergent is targeting to achieve a turnover of Rs.30 million for the year 2001.

Emergent believes that the best way to keep a team motivated is by making every member of the team have a stake in the company. Thus every employee has a reasonable stake.

Emergent also has its Sales Executives in Pune, Ahmedabad & Baroda and Distributors in other major centers of Interventional Cardiology in Western India.

The following is a brief profile of the promoters :

Mr. K Anil Hebbar, B.E. (Electronics & Communication), PGDIM., Managing Director

Mr Hebbar has 15 years experience in marketing PCs and Networking Systems, Medical equipments and Cardiology disposables in Southern & Western India. He started distributing Palmaz-Schatz Stents from J&J in India in 1994. He was responsible for starting the Cardiology disposables business of M/s Advanced Micronic Devices Ltd. (AMDL) in Mumbai and took up the distribution of Cordis range of PTCA and Angiographic products when J&J took over Cordis. AMDL started distribution of Guidant ACS range of Vascular Intervention products in West and South India under him. Being one of the most experienced in this field, he has excellent relation with most of the users all over India and commands a huge goodwill in this line. He has attended many international conferences and programmes in Europe, Far East and Africa.

Mr. Kishore Padav, B.E. (Instrumentation), Director

Mr. Padav has been closely associated in distributing Cordis and Guidant range of products. He has excellent rapport with all the major users in Western India.

Mr. Harish Rao, B.E. (Electronics and Communication), Director

Mr. Harish Rao, spearheaded the introduction of implantable Defibrillators from CPI - Guidant in western India and will look after the pacing products & Electrophysiology business in Emergent.

Mr. U.R. Bhat B.Sc., Sr. Manager

Mr. Bhat worked in the Pharma Industry for more than 15 years and later started marketing KALAM-RAJU Stent which is India's first indigenous stent. 

Mr. Ajay Tambe (Dip, in Digital Electronics), Sr. Manager

Mr. Tambe has more than 5 years experience, selling the Guidant/ACS range of Vascular Intervention products. He is also responsible for identifying emerging technologies in cardiac care.

...."Fingerspitzengefuhl" through CTP
Some paths are only accessible if you have the right equipment

A perfect balance of reliability and high performance in the equipment selected, is an absolute necessity when traversity challenging routes.

When addresing coronary vasculature, it is crucial to select highly reliable equipment. To help you choose the right coronary guide wire, BIOTRONIK designed Galeo; a coronary guide wire range, offering "Fingerspitzengefuhl" and balanced performance in wire handling characteristics. The revolutionary Controlled Transmission Platform (CTP) is the secret to your success in traversing challenging coronary routes.

Galeo coronary guide wire - another dependable performer in the family of BIOTRONIK Interventional Cardiology devices.

High Performances Through :

"Fingerspitzengefuhl"
CTP
Flexiblity
Pushability
Visiblity
Stability

3cm highly radiopaque Gold-plated Platinum coil section

11mm flat core wire for easy shapeability with high memory

CTP The direct connection between core wire and coil by the Controlled Transmission Platform offers a uniquely directional control providing high and atraumatic handling characteristics.

27 cm radiolucent stainless steel coil section for routing control.

One-piece Core Wire design providing enhanced pushability, trackability and support

30 cm BIOCoating gfor less friction and smooth tracking, providing higher crossing potentials

PTFE coating for less resistance

....it's the extension of your fingertips

The secret of Galeo's unique "Fingerspitzengefuhl" is the combination of BIOTRONIK'S revolutionary CTP*, the One-piece-construction of the full length Core Wire and BIOCoating.

High pushablility, flexibility, 1:1 torque response/tip control provide atraumatic reaching and crossing with feel.

5 different tip configurations offer a full guide wire range for any interventional cardiology challenge. 3 cm platinum coil section enabling high visibility and atraumatic tip control.

BIOCoating/PTFE coating and the smooth core to coil transition provide enhanced trackablility.

Vascular Intervention            
in line with advanced angioplasty

Since the early days of PTCA, the ability to reach and cross a lesion has remained essential for the successful treatment of coronary artery disease. Lesion type and morphology are irrelevant when one cannot reach or cross them. Not being able to reach or cross the culprit lesion, totally negates the need for an interventional procedure. From the start of PTCA, manufacturers have recognized that a close relationship with cardiologist, the end-user, is vital.

Expleo is a real end-user engineered product. All materials used, have been developed in-house; the design has been discussed and evaluated with numerous interventional cardiologists, and that has been the secret to its success.

Expleo is the latest generation of BIOTRONIK's PTCA catheters. BIOTRONIK, a company characterized by the continuous investigation of new technologies in cardiology, R&D and manufacturing techniques. Efforts that translate into the best solutions for our products and your patient's care.

For angioplasty cases where high performance is the key to success, Expleo will deliver a new level of handling characteristics and crossability. The durable 2.1 F stainless steel jypotube, covered with polyethylene and coated with BIOC, makes Expleo easier to advance, creating a friction-free passage through any =>0.055" ID guiding catheter.

With its low sized, flexible and highly trackable distal shaft, Expleo smoothly navigates tortuous coronary vasculature. Hydrophilic coating reduces friction between Expleo and the arterial wall, providing easy lesion entry and crossing./ Expleo's low sized shaft permits high flow rates of contrast media for high visualization under fluoroscopy even with small French guiding catheters.

Expleo features double balloon markers, to facilitate precise positioning within the lesion, and to assist in lesion measurement for accurate stent length selection.

The Expleo balloon is made of TELL , an in-house developed balloon membrane, for low pre and post inflation profiles. TELL balloon material can be safely iszed at low nominal pressures (6 bar) and also facilitates high pressure inflation when required. TELL is particularly flexible and permits the balloon area to track and navigate tortuous anatomy. The S-folding pattern of the 2.0 and 2.5 mm balloon and the Star-folded apttern of the 3.0 and 4.0 mm balloon, allows uniform expansion and enhances re-wrap.

Expleo's TELL balloon material presents a wide working pressure range Nominal Pressure(NP)* of 6 bar in all sizes and an average rated burst pressures(RBP)* of 14 bar provide Expleo with a reliable inflation pressure range.

*NP of 6 bar in all sizes , RBP of 14 bar for 3.0 and 4.0 mm.

0.055" ID compatible
Friction-free passage
Improved push-track
Water-like crossing
Sizing flexibility
High visualization

Technical data Expleo

Proximal shaft material	stainless steel hypotube, covered with poyethylene, coated with BIOC
Proximal shaft size	2.1 French
Distal shaft material	HDPE coated with hydrophilic Hydro-X coating
Distal shaft size	2.5 French (2.0 - 3.0 mm), 2.7 French (3.5 - 4.0 mm)
Useable catheter	140 cm
Integrated guide wire lumen	28 cm
Max. recommended guide wire	0.014"
Balloon material	TELL
Shaft and Balloon coating	Proximal hypotube shaft: BIOC
	Distal shaft and catheter tip: Hydro-X
	Balloon: BIOC
Balloon markers / Material	Two (2) / Platinum
Balloon diameters	2.0, 2.5, 3.0, 3.5 and 4.0 mm
Balloon length	10, 15, 20, 25, 30, 35 and 40 mm

Compliance data

Versatile sizing and working pressure range

TELL balloon material can be safely sized during ballon inflations, being pre-dilatations or POBA cases

TELL balloon material offers a semi-compliance of 10% and reliable quarter sizing, below rated burst pressure(RBP) and 12% below max. recommended inflation pressure(MRP).

All Expleo PTCA balloon catheters reach nominal size at 6 bar.

Bradycardia Therapy

Kairos offers a clinically proven and efficient micro-mechanical acceleration sensor that reliably senses the patient's activity. Additionally, the Sensor Trend with Rate Forecast ives the possibility to optimize the sensor setting through simulation after an exercise test.

Extremely thin and light, all members of the Kairos series are in a 6mm housing with a mini header.

In all situations, Kairos pacemakers are :

• easy to handle
• technologically advanced
• reliable in performance
• broad in functionality

OLBI^TM - The new Stimulation principle

The new method of OLBI^TM (Overlapping Biphasic stimulatkion provides reliable atrial pacing,. The lead can be positioned using the familiar VDD implantation technique. Two atrial electrodes and the pacemaker housing produce the stimulation, a positive pulse (with respect to the housing being emited through one atrial ring electrode, while an overlapping negative impulse is emitted through the other. OLBI^TM pacing focuses the stimulating currents on the atrial myocardium, lowering the atrial threshold. This also increases the safety margin to avoid phrenic nerve stimulation compared to conventional forms of stimulation.

Additional Function :

Ø Automatic mode conversion through dual demand

Ø Pulse amplitude control

Ø Temporary program activation

Ø Automatic P and R wave measurement

Ø External pulse control up to 800 ppm

Ø Analog telemetry of battery pulse and lead data

Ø Real-time two channel IEGM transmission with markets

Ø Positioning indicator

Ø Event counter

Ø 2 treat monitors

Ø Patient data memory

Ø Automatic mode conversion through dual demand

Ø Real-time two channel IEGM transmission with markets

Ø Analog telemetry

Ø Heart rate trend with programmable recording time

Ø Heart rate histogram

Ø P/ R wave measurement

Ø Event counter

Ø Patient data memory

Ø Temporary programme activation

Ø High resolution threshold test

Ø Flexibility through software based pacemaker consent

Ø PAC system for controlled pulse amplitudes.

The pacemaker as a part of the natural closed loop control

Rate increased and decreased optimised through the body’s own regulation

Responds to the patients own circadian rhythm

Responds to physical exercise and emotional stress

Automatic initilization

No programming to sensor requirement

No special leads required

Univocal leads can be used.

New Product Features

• New 5-point collagen suture weave
• Unique monofold sheath tip
• Enhanced suture delivery & release mechanism
• Redesigned anchor
• New user-friendly cap and sheath markers

Enhanced Clinical Outcomes

• Early ambulation
• No major complications in 99.5% of cases
• Average time of hemostasis within one minute
• Redesigned anchor
• Patient discharge possible within four hours

5-Point Collagen Suture Weave

• Low profile collagen sponge
• Spiraling collagen compaction
• Localised compaction of collagen

Clinical Benefits :

• Enhanced movement through puncture tract
• Better centering and compaction of collagen
• Facilitated tamping of collagen
• Redesigned anchor
• Collagen is effeciently positioned at arteriotomy site to provide more secure collagen/anchor "sandwich"

CMT REPORT [Corruption, Money laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 45.92
UK Pound	1	Rs. 84.62
Euro	1	Rs. 58.03

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		39

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions