30 September 2009
By Nikhil Deshmukh
With an aim to popularise stem cell therapy for cartilage and bone repair, Mumbai–based Regenerative Medical Services Pvt Ltd (RMS), a stem cell therapy service providing company tied–up with a South Korean company Sewon Cellontech.
Speaking at the inauguration of its laboratory in Lonavala, RMS managing director Yash Sanghavi said, “We have tied–up with the South Korean company Sewon Cellontech, which will provide kits for growing stem cells for therapy and other purposes. The tie–up will facilitate sharing of technology. The Korean partner is not involved in any monetary investment in India.”
“At present about a million Indians, who are in the early stages of osteoarthritis – which could later need total knee replacement (TKR) – would need such therapy. The stem cell therapy is wellknown among medical practitioners because of its 98 per cent success rate and it is also a cheaper treatment,” Sanghavi said.
Before launching the new therapy officially, the company had undertaken 14 cases across the country to see the results, when patients were successfully treated and cured the company decided to expand its services, he said.
Sanghavi added that since stem cell therapy is in huge demand and RMS is plans to get reach the 2,000 medical cases mark within a year’s time. Eyeing to use the network of hospitals across the country, RMS managing director said that the company was certain to achieve the mark as the stem cell therapy is in huge demand.
Chang Cheong–Ho, CEO and chairman of Sewon, said, “We were looking an opportunity to enter the Indian market, which we have got through RMS. We will provide technology and licensed products that will be used by RMS for Indian patients. Though Sewon’s major revenue comes from processing chemicals and Hydraulic business, company is investing in health sciences in India.”
RMS is a family–owned company with a turnover of Rs 500 crore with Rs 18 crore annual growth profit, Sanghavi said.