Helping a French Medical diagnostics company to grow manifold by revamping strategy to set up own operations
About the Client
The client is a multinational biotechnology company based in France. The company specializes in medical diagnostics and diagnostic solutions.
The client was present in India through a local manufacturing partner but was unable to capture a significant market share. The manufacturing partner was also involved in selling its own product portfolio.
TECNOVA’S APPROACH AND SOLUTION
Tecnova has conducted several studies and realized that it is rare to find a successful partnership where a foreign company distributes products through a local manufacturer who also markets own product portfolio.
Tecnova assisted the client in discontinuing their exclusive partnership with the Indian pharmaceutical major and helped in setting up a wholly owned subsidiary in India. Tecnova also developed a business plan and a new strategy aimed towards aggressive growth.
Tecnova provided incubation support to the start-up team of the new fully owned Indian subsidiary which included providing office space, administration & accounting support, executive search and recruitment of a few team members based in India. Additionally to support the client to stick to a long-term growth plan, Tecnova provided Advisory services on an on-going basis.
- The company’s Indian operations increased business more than 20 fold in 5 years after setting up its own fully owned subsidiary.