BPL Medical Technologies is looking to quadruple its revenue to around ₹2,000 crore by 2032, with critical care and imaging expected to drive the next phase of growth as the medical-device maker expands beyond its traditional cardiology base.
Speaking to businessline, Guruswamy Krishnamoorthy, CEO, BPL Medical Technologies Pvt. Ltd more than 50 per cent of BPL’s revenue currently comes from critical care, which has emerged as a core business for the company after a decade of expansion into anaesthesia, patient monitoring, ventilators, and infusion pumps. Imaging, meanwhile, is an evolving business that the company expects to play a significantly larger role in its next growth phase.
The company is also using acquisitions to build technology capabilities and create an export platform. It recently acquired 100 per cent of South Korea-based BM Tech, which makes bone densitometers, and acquired a controlling stake in Belgium-based Medec, a developer of high-end anaesthesia and ventilation products.
While BM Tech gives BPL access to a new product category and the wider Southeast Asian market, Medec is expected to serve as a technology and global-market hub. BPL plans to bring some of Medec’s products to India and localise their manufacturing, while using the Belgian company as a gateway to markets in the Middle East, Africa and Latin America.
The strategy targets markets that share characteristics with India, including Southeast Asia, Thailand, Vietnam, the Philippines and Indonesia, where demand for medical devices is growing, but products need to be competitively priced.
BPL also plans to use its manufacturing capabilities in India to support the new businesses. Its Bengaluru facility, spread across about 90,000 sq ft and supported by advanced machining and fabrication capabilities, is expected to manufacture mechanical components for products such as anaesthesia machines. India could also increasingly take on software development, including embedded and application software.
The company sees India as the starting point for this expansion, followed by South and Southeast Asia, the Middle East and Africa. Its broader ambition is to become part of a larger Indian medical-device manufacturing platform backed by Claypond, with the group targeting a $1-billion scale over the next decade.
Published on October 7, 2026
