Origio, a medical technology company listed on the Oslo Stock Exchange, has signed a conditional share purchase agreement to acquire 51% of Mumbai-based Trivector Scientific. Trivector Scientific, part of the Trivector Group, supplies turnkey solutions for assisted reproductive technology (ART) clinics in India.
Origio estimates that the number of ART treatments in India will grow by 20-25% a year over the next five years, putting India among the three largest ART markets worldwide by 2016. As a result, the company expects ART clinics to proliferate in the country over the next few years.
Jesper Funding Andersen, Origio’s CEO, said the partnership with Trivector Scientific was strategically important and would give Origio an edge in the fast-growing Indian ART market.
