Chennai-based Fischer Medical Ventures (FMVL) has made a significant breakthrough by developing India’s first indigenous MRI system. This move is expected to reduce the nation’s dependency on imported medical devices, which currently account for 80-85% of the market.
FMVL’s MRI systems are being produced in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam, benefiting from the region’s advanced facilities and skilled workforce. The company also eyes acquisitions and investments in high-tech ventures, such as AI-powered X-ray equipment and teleradiology solutions, to expand its medical technology portfolio.
Having gone public on the BSE last December, FMVL aims to become a leader in the Indian medical imaging industry. The leadership team includes Ravindran Govindan, with over 45 years of experience, and Shankar Varadharajan, known for his strategic leadership in investment banking.
