MIRA INFORM REPORT

Report Date :

16.07.2013

IDENTIFICATION DETAILS

Name :	TRIVITRON HEALTHCARE PRIVATE LIMITED (w.e.f. 23.10.2008)
Formerly Known As :	TRIVITRON DIAGNOSTICS PRIVATE LIMITED
Registered Office :	Trivitron Sapthagiri Bhawan, No. 15, IV Street, Abhiramapuram, Chennai – 600018, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.05.1998
Com. Reg. No.:	18-040515
Capital Investment / Paid-up Capital :	Rs.8.103 Millions
CIN No.: [Company Identification No.]	U85110TN1998PTC040515
TAN No.: [Tax Deduction & Collection Account No.]	CHET07271F / CHET07756A
PAN No.: [Permanent Account No.]	AAACT9378H
Legal Form :	Private Limited Liability Company
Line of Business :	Trading of Healthcare Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2230000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The latest financials as on 2012 is not available. As per the available of 2011, the sales turnover of the company has increased but there appears a drastic fall in its net profitability. Profit margin appears to be low. However, financial and liquidity position appears to be strong and healthy. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB+ (Long Term Rating)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	January 08, 2013

Rating Agency Name	CRISIL
Rating	A2 (Short Term Rating)
Rating Explanation	Strong degree of safety and low credit risk.
Date	January 08, 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED BY

Name :	Mr. Srivatsan
Designation :	Finance Department
Contact No.:	91-44-24985050/ 324
Date :	09.07.2013

LOCATIONS

Registered Office/ Corporate Office :	Trivitron Sapthagiri Bhawan, No. 15, IV Street, Abhiramapuram, Chennai – 600018, Tamil Nadu, India
Tel. No.:	91-44-24985050/ 28522216/ 28594817/ 24985151/ 5656
Fax No.:	91-44-24985757/ 28548997/ 24672782
E-Mail :	ramaya.r@trivitron.com biswa.p@trivitron.com r.prema@trivitron.com srivatsan.n@trivitron.com unnikrishnan@trivitron.com
Website :	http://www.trivitron.com
Regional/ Branch Offices :	Located at: · Chennai · Bangalore · Pondicherry · Mumbai · Kolkata · Pune · New Delhi · Cochin · Secunderabad · Chandigarh
Overseas Offices :	Located at: · Dubai · Oman · Finland · United States of America · Sri Lanka · Abu Dhabi

DIRECTORS

As on: 28.09.2012

Name :	Dr. Gomathi Babu Sadacharam Kulandai Velu
Designation :	Managing Director
Address :	No. 25 (Old No. 13), 1^st Main Road, Cit Colony, Mylapore, Chennai – 600004, Tamilnadu, India
Date of Birth/Age :	30.06.1967
Date of Appointment :	18.05.1998
PAN No.:	AABPV3508P
DIN No.:	00894980
Name :	Mrs. Subbulakshmi Kulandai Velu
Designation :	Director
Address :	No. 25 (Old No. 13), 1^st Main Road, Cit Colony, Mylapore, Chennai – 600004, Tamilnadu, India.
Date of Birth/Age :	25.10.1972
Date of Appointment :	05.01.1999
PAN No.:	ALHPK3166B
DIN No.:	00180390
Name :	Mr. Sameer Dungardas Saral
Designation :	Director
Address :	C 3, Kosala No. 14, Srinivasa Road, T. Nagar, Chennai – 600017, Tamilnadu, India.
Date of Birth/Age :	18.05.2007
Date of Appointment :	18.05.1998
DIN No.:	00838100
Name :	Mr. Chandrasekhar Kandasamy
Designation :	Director
Address :	Villa 17, phase I, palm Meadows, Airports Whitefield Road, Bangalore – 560 066, Karnataka
Date of Birth/Age :	31.01.1967
Date of Appointment :	09.11.2012
DIN No.:	00236761
Name :	Mr. James Frederick Savage
Designation :	Director
Address :	8A Block 18, Baguio Villas, 555 Victoria Road, Pok Fu Lam Hong Kong
Date of Birth/Age :	18.04.1969
Date of Appointment :	31.10.2007
Din no.:	01505485
Name :	Mr. Rajesh Kumar Dugar
Designation :	Nominee Director
Address :	31, Chitrakoot, Altamount Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	01.07.1969
Date of Appointment :	23.10.2012
DIN No.:	00307729
Name :	Robert Mark Weisskoff
Designation :	Nominee Director
Address :	18, Preston Road, Lexington, Massachusetts 024203227
Date of Birth/Age :	22.06.1962
Date of Appointment :	23.10.2012
DIN No.:	05122018

KEY EXECUTIVES

Name :	Mr. Srivatsan
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2012

Names of Shareholders	No. of Equity Shares
GSK Velu	595030
Suba K Velu	100
Sameer D Saral	100
Eplanet Ventures Mauritius Limited, Mauritius	12850
Hav2 (Mauritius) Limited, Mauritius	12850
Total	620930

Names of Shareholders		No. of Preference Shares
Eplanet Ventures Mauritius Limited, Mauritius		94725
Hav2 (Mauritius) Limited, Mauritius		94725
	Total	189450

As on: 23.10.2013

Names of Allottees		No. of Preference Shares
FIL Capital Management (Mauritius) Limited, Mauritius		101297
FIL Capital Advisors Trustee Company Private Limited(acting as Trustees to Fidelity India Principals), India		1457
	Total	102754

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	4.14
Directors or relatives of directors	95.86
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading of Healthcare Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ING Vysya Bank Limited, 185, Anna Salai, Near TVS, Chennai – 600002, Tamilnadu, India

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

· ING Vysya Bank Limited, 13/1, Karpagambal Nagar, Mylapore Branch, Chennai – 600 004, Tamilnadu, India

Facilities :

(Rs. In Millions)

Secured Loan	31.03.2011	31.03.2010
Rupee term loans banks secured	53.523	25.443
Working capital loans banks secured	201.933	138.973
Finance lease obligation long-term secured	2.498	1.629
Total	257.954	166.046
(A) The term loans are secured by pari passu charge on inventory and book debts of the Company and equitable mortgage of Company's land and building and personal guarantee of a director. Term loans repayable within one year is Rs. 16.741 millions (March 31, 2010: 3.557 millions) (B) The working capital demand loan and cash credit facility are secured by parri passu charge by hypothecation of all stock, raw materials, other movables, book debts, bills, outstanding monies receivables, both present and future and also a first charge on the entire fixed assets of the Company both present and future, equitable mortgage on a subsidiary's property and residential properties of directors. The facility is further secured by corporate guarantee of Trivitron Medical Systems Private Limited and Trivitech Healthcare Private Limited. (C) Assets acquired under finance lease are secured by hypothecation of vehicles.

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address:	36, New No. 6, Krishnaswamy Avenue Mylapore, Chennai – 600 004, Tamil Nadu, India
Tel. No.:	91-44-24992261/ 1347/ 4231
Fax No.:	91-44-24991408
Email:	rs_company@yahoo.com
Subsidiary Company :	· Trivitron Dental Technologies Private Limited (formerly Trivitech Healthcare Private Limited ) (‘TDTPL’) CIN No.: U29297TN2001PTC047581 · Trivitron Medical Technologies Private Limited (‘TMT’) CIN No.: U74140TN1999PTC043339 · Trivitron Medical Systems Private Limited (‘TMS’) CIN No.: U33112TN1997PTC037396
Associates / Joint Ventures :	· Aloka Trivitron Medical Technologies Private Limited (‘Aloka’) · Star Trivitron FZ LLC, Dubai ( ‘ Star’) · Vision Medicaid Equipments Private Limited (‘Vision’) · Biosystems Diagnostics Private Limited (‘BDP’) · Trivitron Nawakrama Medical Technologies Private Limited (’TNM’) · Alliance Medicorp (India) Limited (’Alliance’) · ET Trivitron Medical Solutions Private Limited (formerly Biosystems · Diagnostics (India) Private Limited) (‘ET’)
Others (Enterprises over which key management personnel are able to exercise control)	· Brandon Trivitron Medical Technologies Private Limited (‘BTM’) · Metropolis Healthcare Limited (‘MHL’) · Golwilkar Metropolis Health Services (India) Private Limited (‘GMH’) · Desai Metropolis Health Services Private Limited (‘DMH’) · Hexel Healthcare Consulting (India) Private Limited (‘Hexel’) · Metropolis Clinical Diagnostics (Bihar) Private Limited (‘MCD’) · Sudharma Metropolis Health Services Private Limited (‘SMH’)

CAPITAL STRUCTURE

After: 28.09.2012

Authorised Capital : Rs. 35.001 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
620930	Equity Shares	Rs.10/- each	Rs.6.209 Millions
292204	Preference Shares	Rs.10/- each	Rs.2.922 Millions
	Total		Rs.9.131 Millions

As on: 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
850100	Equity Shares	Rs.10/- each	Rs.8.501 Millions
249900	Preference Shares	Rs.10/- each	Rs.2.499 Millions
	Total		Rs.11.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
620930	Equity Shares	Rs.10/- each	Rs.6.209 Millions
189450	Preference Shares	Rs.10/- each	Rs.1.894 Millions
	Total		Rs.8.103 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		8.103	8.103	8.103
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		549.698	539.429	475.579
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		557.801	547.532	483.682
LOAN FUNDS
1] Secured Loans		257.954	166.046	67.721
2] Unsecured Loans		27.444	13.147	8.466
TOTAL BORROWING		285.398	179.193	76.187
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL`		843.199	726.725	559.869
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		116.641	108.266	105.549
Capital work-in-progress		0.000	7.608	6.197
INVESTMENT		220.625	181.079	176.486
DEFERREX TAX ASSETS		3.324	0.522	2.867
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	523.225	220.185	179.165
	Sundry Debtors	430.011	312.039	206.931
	Cash & Bank Balances	99.909	74.060	77.579
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	140.626	181.306	142.368
Total Current Assets		1193.771	787.590	606.043
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	619.583	290.294	292.556
	Other Current Liabilities	53.486	44.322	32.451
	Provisions	1.994	10.893	12.266
Total Current Liabilities		675.063	343.509	337.273
Net Current Assets		518.708	444.081	268.770
MISCELLANEOUS EXPENSES		(16.099)	(14.831)	0.000
TOTAL		843.199	726.725	559.869

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales Net	1388.018	1270.160	795.824
		Other Income		23.950	27.671
		TOTAL (A)	1388.018	1294.110	823.495
Less	EXPENSES
		Purchase of Traded goods		921.370	703.578
		(Increase) in inventory	1326.150	(39.027)	(114.049)
		Employee Costs		103.467	67.767
		Operation and other expenses		176.866	118.289
		TOTAL (B)	1326.150	1162.676	775.583
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		61.868	131.434	47.912
Less	FINANCIAL EXPENSES (D)		28.942	21.622	10.920
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		32.926	109.812	36.992
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.593	10.817	13.153
	PROFIT BEFORE TAX (E-F) (G)		15.333	98.995	23.839
Less	TAX (H)		5.021	35.102	9.692
	PROFIT AFTER TAX (G-H) (I)		10.312	63.893	14.147
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		146.343	88.882	76.193
Less	APPROPRIATIONS
		Transfer to General Reserve	1.031	6.389	1.414
		Dividend	0.043	0.037	0.037
		Tax on Dividend	0.000	0.006	0.006
	BALANCE CARRIED TO THE B/S		155.581	146.343	88.882
	EARNINGS IN FOREIGN CURRENCY
		Commission	8.964	5.312	19.205
		Export Sales		15.751	8.293
	TOTAL EARNINGS		8.964	21.063	27.498
	IMPORTS
		Equipments, consumables and spares	1156.586	670.961	364.077
	TOTAL IMPORTS		1156.586	670.691	364.077
	Earnings Per Share (Rs.)		16.61	102.90	22.70

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.74	4.93	1.71
Net Profit Margin (PBT/Sales)	(%)	NA	7.79	3.00
Return on Total Assets (PBT/Total Assets}	(%)	1.17	11.05	3.35
Return on Investment (ROI) (PBT/Networth)		0.02	0.18	0.04
Debt Equity Ratio (Total Debt/Networth)		0.51	0.33	0.16
Current Ratio (Current Asset/Current Liability)		1.76	2.29	1.79

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

COMPANY BACKGROUND

Subject (‘the Company’) was incorporated on May 18, 1998 in the name and style, Chiron Diagnostics Limited (CDL) under the provisions of the Companies Act, 1956. On October 23, 2008, the name of the Company was changed to its present name i.e. Trivitron Healthcare Private Limited. The Company is engaged in the business of trading of medical equipments, diagnostic reagents, consumables, other healthcare products and hospital supplies.

BUSINESS OPERATIONS AND FUTURE OUTLOOKFUTURE OUTLOOK

The Company started focusing on Innovation, Manufacturing and International operations as three pillar of its growth. The Company today is the largest Medical Technology Company of Indian Origin, with more than 12% of revenues coming from Manufacturing, Services and International Operations. The Company's vision is to think Out of Box to make the most innovative Medical Technology products affordable to the larger section of population in the Emerging Markets with particular focus to India, South Asia, Middle East and Africa.

From Nil Manufacturing revenues two years back, the Company already has over 8% of its revenues coming out of Manufacturing with Distribution and Services contributing to the rest of 92%.

The Company’s current key focus areas are three segments namely Lab Diagnostic (In Vitro Diagnostics), Imaging (In vivo diagnostics) and Cardiology (medical equipment and devices), and opportunistic areas being Criticare-OR, dental and ophthalmology.

Strategically, the Company is well placed to achieve its next growth phase. Their key focus area which contributes to more than 80% of revenues and profits are Imaging Diagnostic (In vivo), Lab Diagnostics (IVD) and Cardiology (Equipment and devices). Other Key areas of focus with solid strategies are Dental and Ophthalmology.

Through focused approach in manufacturing, innovation, service and trading, and Company is well poised to achieve excellent growth.

UNSECURED LOAN

(Rs. In Millions)

Particular	31.03.2011	31.03.2010
Loans subsidiaries unsecured	27.444	5.147
Loans directors unsecured	0.000	8.000
Total	27.444	13.147

CONTINGENT LIABILITIES NOT PROVIDED FOR :

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010
Counter Guarantee and commitment in respect of Bank Guarantees and Letters of credit issued by company’s Bankers	311.957	171.153
Disputed Sales Tax / Customs Duty	0.160	1.287
Corporate Guarantee issued to banks on behalf of subsidiaries (to the extent outstanding as at the balance sheet date)	53.226	42.517

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U85110TN1998PTC040515
Name of the company	TRIVITRON HEALTHCARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Trivitron Sapthagiri Bhawan, No. 15, IV Street, Abhiramapuram, Chennai – 600018, Tamilnadu, India E-mail: corporate@trivitron.com
This form is for	Creation of charge
Type of charge	· Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India E-mail: satish.ramanathan@hdfcbank.com
Nature of instrument creating charge	Memorandum relating to Hypothecation of Machinery dated 31st January, 2012
Date of instrument Creating the charge	31.01.2012
Amount secured by the charge	Rs.9.310 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Any such rate as may be advised to the Company from time to time in respect of the credit facilities. Terms of Repayment Term Loan of Rs.9.310 Millions - Unless demanded earlier, repayable as per sanction terms. Margin As may be prescribed by the Bank from time to time for the credit facilities. Extent and Operation of the charge Hypothecation by way of Exclusive First Charge in favour of HDFC Bank Limited, on all the movable Plant and Machinery of the Company both present and future.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation by way of Exclusive First Charge in favour of HDFC Bank Limited, on all the movable Plant and Machinery of the Company both present and future

Fixed Assets:

· Land

· Building

· Plant and Machinery

· Office Equipments

· Computer Equipments

· Furniture and Fixtures

· Vehicles

· Computer Software

AS PER WEBSITE DETAILS

Press Release

India’s Trivitron in Middle East Push: Buys out ETA Star Healthcare Stake in JV to form 100 % Subsidiary in Dubai

29, January 2013

The JV with the Al Ghurarir Group company was established in 2006 and end of 2012, Trivitron acquired it completely setting up its own offices in Dubai Healthcare City to pursue an aggressive growth mandate for its innovative, indigenously manufactured products in the US$80 billion Middle East market.

Participating at the ongoing Arab Health 2013 as a Gold Sponsor, Trivitron in a statement said that as part of its strategic global growth plan, the company has also made a 100 per cent acquisition of the globally renowned Finland-based Anilabsyatem.

The acquisition will also help bring Anilabsystem’s product into the Middle East market, African and emerging markets apart from Trivitron’s indigenously manufactured, innovative products in critical care and operating room solutions, lab diagnostics (IVD) and X-ray imaging solutions. It will also help leverage collaboration with channel partners and enhance networking for new products in focussed segment.

Commenting on their presence at the Arab Health, Dr. G.S.K Velu MD and Founder of Trivitron Healthcare said, “We are glad to enter the emerging markets of the world with our own branded products and solutions. This forum has helped us in establishing our self as globally acclaimed fully integrated medical technology company, focused on innovation, manufacturing, technical service support, patient healthcare delivery and skill education.”

In 2013, Trivitron Healthcare’s focus has been Labsystems’ Neonatal screening system, cardiac biomarkers, infectious disease, gastrointestinal infection (celiac) test, fertility tests and patented products across the segments. Its OEM brands include Lab diagnostics, Critical Care and Operating Room solutions, imaging solutions), Kiran products and Labsystems diagnostics products.

“The strategic partnership has not changed the existing respective distribution relationships but allows both companies to better serve their customers and provide them the products, support and training that they need in their markets” says Mr. Timo H Lasola, CEO of Labsystems Diagnostics.

TRIVITRON PICKS UP STAKE IN KIRAN MEDICAL | BUSINESS LINE

October 11

Medical device and technology provider Trivitron Healthcare has picked up minority stake in Mumbai-based Kiran Medical Systems, a player in the image enhancement and radiation protection space.

The investment in Kiran combines a cash component and a stock swap. The agreement between the two companies also provides for Trivitron to increase its shareholding over the next few years.

Kiran Medical, which manufactures cassettes, screens, grids, shields and computer radiography systems, has a 70,000 sq. ft manufacturing facility in Mumbai.

Trivitron is currently present in the imaging market through a joint venture with Hitachi Aloka Medical, which offers ultrasound and colour Doppler technologies.

“The investment in Kiran will help Trivitron extend its imaging product portfolio and cater to the needs of radiologists and cardiologists across the globe,” said a press release.

It will also strengthen Trivitron's presence in South/ South-East Asia, West Asia and Africa and also make an entry into US, Europe, Japan and Latin America where Kiran has a strong presence, the release added.

Mr Ramesh Modi, CEO, Kiran Medical will continue to operate the business of Kiran as an independent entity. Kiran exports its products to over 160 countries across the world.

TRIVITRON HEALTHCARE ACQUIRES FINNISH FIRM FOR €15.8 M

Chennai, November 23:

Medical technology player Trivitron Healthcare has acquired Finland-based Ani Labsystems, a player in invitro diagnostics, for €15.8 million. Ani Labsystems is a group of companies comprising Ani Biotech, Ani Labsystems, Biopoint and K3, specialising in manufacturing of neonatal screening, cardiac, gastro, respiratory diagnostics kits and infectious disease testing products.

Trivitron is acquiring all the group companies; the merged entity will be called Labsystems Diagnostics OY, a Trivitron group company. This 100 per cent acquisition gives Trivitron access to a global manufacturing facility. While neonatal screening, cardiac, gastro and respiratory diagnostics kits will continue to be manufactured at Helsinki Vantaa in Finland, the infectious diseases and women’s health kits will be manufactured at Trivitron’s medical technology park in Chennai, said a release.

The factory in Chennai will enable Trivitron to offer new product lines in South Asia, South-East Asia, West Asia and Africa, said G.S.K. Velu, Founder and Managing Director, Trivitron Healthcare.

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.60.05
UK Pound	1	Rs.90.71
Euro	1	Rs.78.47

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	VRN

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	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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	Capability to overcome financial difficulties seems comparatively below average.	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
-	NB	New Business	-

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.