Tata Elxsi gains 2% on collaboration with Drager for driving critical care innovation in India

Tata Elxsi Ltd shares gained 2% in morning trade on Thursday after the company announced a partnership with the global medical and safety technology products manufacturer Drager for driving critical care innovation in India.

The two companies have signed an innovative partnership and collaborated to drive critical care innovation in the country, which involves Drager to expand its research and development (R&D) presence in India, Tata Elxsi said in a filing to the stock exchanges on Wednesday, March 27.

As part of the collaboration, Drager will set up a new Offshore Development Centre (ODC) at Tata Elxsi's facility located in Pune in order to expand its research and development presence.

This ODC in Pune will focus upon the development of innovative critical care medical devices for both, international as well as local markets. The said partnership will amalgamate the design and technology expertise from Tata Elxsi and the prowess from Drager in the medical and safety technology line.

The talent from both the organizations will unify under the partnership, while being dedicated to designing and developing innovative critical care medical devices for deployment in the Operation Theatre (OT) environment globally.

All the aspects of critical care product development will be overseen by the central hub, right from conceptualisation to product design, prototyping as well as testing.

The collaboration between Tata Elxsi and Drager is aimed at fast tracking the development of cost-effective, high-quality medical devices, which will in turn contribute to a robust healthcare ecosystem accessible to everyone.

The Head of Healthcare and Lifesciences Business of Tata Elxsi, Pankaj Madhukar Wani said that the company has a unique opportunity to integrate its innovative technology, design, and engineering proficiency into product development, working with Drager, thereby well-positioned to deliver impactful solutions.

Shares of Tata Elxsi were trading 2.4% higher at ₹7,860 apiece on the NSE at 13:40 pm.