DOHA, Qatar, January 17, 2017 /PRNewswire/ --
- First major agreements signed with international partners
- US$35 billion MENA healthcare market expected to grow by a CAGR of approximately 6-9% between 2014 and 2019
Al Sawari Holding, the Qatari holding company which operates globally across a number of sectors, announces that its newly-branded healthcare company, Avanzcare, has recently achieved a number of notable successes and is well-positioned for further expansion within the rapidly growing MENA healthcare market during 2017.
Avanzcare, previously known as Al Sawari Medical, has rebranded in line with the company's increasingly international outlook. Avanzcare's strategy is to embrace the many opportunities it has for expansion and diversification, to become the partner of choice for advanced healthcare solutions in the MENA region, and to deliver the highest quality products and services so as to improve the health of people across the region.
Avanzcare's operations cover pharmaceutical distribution, manufacturing, healthcare centers, retailing and co-marketing. It acts as a gateway for international companies looking to enter the MENA healthcare market and provides a unique business model in the region.
The MENA region currently represents around 6% of the world's population. Its healthcare market represents 2-3% of the global pharmaceutical market, is currently valued at approximately US$35 billion and is expected to expand by a compound annual growth rate of approximately 6-9% between 2014 and 2019. Qatar's pharmaceutical market alone has seen CAGR of 12.6% over the past decade, reaching US$709 million in 2015.
During 2016, Avanzcare signed major agreements with two leading international partners and has ambitions to develop partnerships with other international companies in other selected healthcare areas.
Avanzcare signed an agreement in June 2016 with US firm Protein Sciences Corporation which designated Avanzcare as the exclusive distributor of Protein Sciences' proprietary Flublok (seasonal) and Panblok (pandemic) influenza vaccines and potentially other vaccines to be developed in the future for MENA markets. Under the terms of the agreement, Avanzcare will pursue registration of Flublok in all licensed countries and will initially purchase Flublok from Protein Sciences for distribution in the region.
Avanzcare will therefore be able to meet the latent need in the MENA region for the delivery of a highly effective, pure, and safe flu vaccine. The World Health Organization reports that throughout the world, annual flu outbreaks result in 3-5 million severe cases and between 250,000 and 500,000 deaths. The MENA flu vaccine market is valued at US$160 million, representing almost 4% of the total global market.
Protein Sciences' Executive Chairman, Dan Adams, noted that Avanzcare's extensive network in the region and experience in securing regulatory approval of pharmaceutical products makes it a strong partner which will allow Protein Sciences to reach many countries.
In October 2016, Avanzcare signed an agreement with China-headquartered Mindray, a leading global provider of medical devices and solutions, under which Avanzcare will be the sole distributor of Mindray's life support products in Qatar. These will include anesthesia, defibrillator, infusion pump, syringe pump, monitor, ventilator and ECG products.
Avanzcare has a highly experienced, multi-national team operating across the MENA region. In 2016, Avanzcare became ISO 9001:2015 compliant, a demonstration of the company's ongoing commitment to providing services of the highest quality. Avanzcare has also successfully completed its TRACE certification, underscoring its commitment to commercial transparency and anti-bribery compliance.
Sheikh Turki bin Faisal Bin Qassim Al Thani, Chairman of Al Sawari Holding, commented:
"Al Sawari Holding's strategy is to provide the highest quality products and services across all the sectors and markets in which we operate. Healthcare is no exception and we are pleased that Avanzcare is becoming an increasingly important player in the MENA region. Through the combination of its local knowledge and infrastructure, and ability to act as a gateway partner for leading international companies, Avanzcare is well-positioned to provide access to innovative products and services which will improve people's lives in the region. I am confident that 2017 will see Avanzcare go from strength to strength in the MENA healthcare market."
Mohamed Shafiek, Managing Director of Al Sawari Holding, said:
"The growth of the MENA healthcare market is creating significant opportunities for Avanzcare and, given market growth estimates, this is set to continue. Al Sawari's objective is for Avanzcare to become recognized as the benchmark for providing advanced healthcare solutions across the region and we are confident we are well on the way to achieving this."
Mr John Youssef, General Manager of Avanzcare, said:
"Avanzcare is committed to continually developing the healthcare sector and to improving the quality of life in the MENA region. A key part of our strategy is to become the partner of choice for advanced healthcare solutions in the region so we are delighted to have recently signed our first long-term agreements with international partners, Protein Sciences and Mindray."
About Al Sawari Holding
Al Sawari Holding is one of Qatar's leading private companies. Chaired by Sheikh Turki Bin Faisal Al Thani, Al Sawari operates across a wide range of sectors including Medical, Real Estate, Hospitality, Contracting, Industries, Technology, Consultancy, Business, and Investments. This fast-expanding organization is dedicated to investing in the growth and further diversification of its business and continuously evaluates new business opportunities with the potential to enhance its portfolio. http://www.alsawariholding.com/
For Further Information:
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Al Sawari Holding
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