We are pleased to announce that we have entered into a strategic agreement with M/s HonorAi Pvt. Ltd. (HPL). HPL is our new distributor of the MEV-8 insulation Level Monitoring Systems in the Indian market. The MEV-8 will ensure electrical safety in Indian operating rooms as well as in other critical facilities in hospitals.
We are confident that our partnership with HPL will provide Indian hospitals with a high-quality solution achieving strong supply chains by consistently providing them with MEV-8 insulation monitoring systems.
HPL is an experienced system integrator, providing input throughout the entire project life cycle, including engineering expertise, design and integration skills.
The company’s objective is to provide tailored & flexible solutions with compliance, engineering products solutions, consultancy, training, and after-sales support in the healthcare industry, industrial automation and energy optimisation.
HPL’s headquarter is based in Pune, Maharashtra, India, having branch offices in Kolkata and Nagpur and a virtual office in Oxford, UK. The management team comprises multi-domain experts in industrial automation, robotics, software development and health safety equipment.
“Our cooperation with HPL has started excellently. HPL team has the skills and long experience to sell specific hospital technology, such as our MEV-8 solution”, says Timo Ohtonen, Managing Director of PPO-Elektroniikka.
Indian Health Technology Market
The Indian healthcare sector is expected to record a three-fold rise, growing at a CAGR of 22% between 2016–2022 to reach US$ 372 billion in 2022 compared to US$ 110 billion in 2016.
The Indian medical tourism market was valued at US$ 2.89 billion in 2020 and is expected to reach US$ 13.42 billion by 2026.
The safety and reliability of electrical networks in any hospital are more critical. Patients undergoing treatments for critical ailments make hospitals the most vulnerable place for electrical accidents that may prove fatal if not appropriately addressed at the right time. So medical locations’ stringent measures are necessary to ensure the safety of patients likely to be subjected to the application of medical electrical equipment.
In India, the insulation monitoring market has the potential for significant growth. Awareness of the factors affecting the electrical safety of operating rooms is constantly growing, and legislation is being developed.
More than 90 % of hospitals’ conventional, old-fashioned IMD solutions need to be replaced. There are almost 70,000 hospitals in India.
The private hospital sector was valued at US$ 132 Bn in FY 2021. It is expected to reach US$ 334 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~20.53% during the FY 2021-FY 2027 period. Because of this, there will be demand for our MEV-8 system.
MEV-8 saves lives in operating rooms
The MEV-8 Insulation Monitoring System monitors the safety of electrical equipment in operating rooms where defective electrical equipment can cause serious incidents. Our system has saved lives and has protected valuable equipment in all Finnish hospitals for the last 40 years.
We launched our fifth-generation MEV-8 insulation level monitoring system in 2019 according to international standards and listening to the needs and wishes of the global target group. Today, we have distributors already in 23 countries.
The insulation monitoring system has been mandatory in all operating rooms in Finland since 1983. Across Europe, this kind of system became mandatory in 2015.
It is a matter of safety, efficiency and cost savings. The MEV-8 insulation level monitoring system
• protect patients and staff from electric shocks
• prevents fires and burn injuries
• ensures that unnecessary downtime can be avoided
• ensures that the service life of surgical equipment is extended.
The abbreviation MEV comes from the Finnish words “earth insulation level control”.
CEO Timo Ohtonen
Kaarelantie 21, 00430 Helsinki, Finland
Tel. +358 9 566 09210
M/s HonorAi Pvt. Ltd. M/S HonorAi
Ranjit D Deshmukh
E2002,20th Floor, Building No-E ‘ASAWARI'(NRD-8),
Nanded City, Pune, Maharashtra 411041 INDIA
Tel. +91 9038795235