The Indian arm of Dutch consumer electronics giant Philips sees a vast potential in healthcare business and has launched its first cardiovascular X-ray system developed here, with plans for exports. The company, which reported revenues of Rs.32 billion (over $700 million) in 2008, sees the growing healthcare market in India, along with lighting and lifestyle segments, spurring the group's growth in the coming years. 'We are focusing on healthcare in a big way. This market is set to witness 10-15 percent growth per annum,' said Murali Sivaraman, managing director and chief executive for Indian subcontinent with Philips Electronics. 'Home healthcare is an untouched, virgin place,' Sivaraman told reporters here during the group's annual conference, which, this year, saw a number of launches, including home theatres, lighting and MP3 products. Officials said Philips expanded its healthcare business over the past two years and acquired firms like Meditronics and Alpha X-ray Technologies in India, VMI Sistemas Medicos in Brazil and Goldway in China. Anjan Bose, vice president for Philips Healthcare, said that Allura FC, a the multi-purpose catherisation lab developed in India, was a significant addition to the emerging markets healthcare product portfolio.for Further: sify.com/finance/philips-sees-healthcare-lighting-pushing-india-growth-news-default-kdvoOchgdij.html
