Philips Healthcare’s (NYSE:PHG) India division plans to expand its marketing network and provide more affordable equipment to hospitals, the company said.

"We are looking at hospitals expanding into different Tier II and III cities where bed sizes are 50-200 to cater to the local population. We are targeting developing areas and offering affordable equipment for them that enable more patient throughput," Rekha Ranganathan, senior director and chief marketing strategy officer, said to Business Line.

Philips Healthcare, a subsidiary of Dutch multinational electronics company Philips and headquartered in Amsterdam, has operations in more than 60 countries. The company has experienced growth at 30% year-on-year and the focus on Tier II and III towns will help the company boost its growth rate further, Business Line reported.

Philips Healthcare set up a research and development center, Philips Research Asia, in Bangalore, India in 2000 and employed 30 from around the world. It also set up a healthcare manufacturing facility in Chakan near Pune in June, according to the company’s website.