Malaysia and Kazakhstan tie-up to boost medical kit business
Astana – Malaysia has secured its final potential partner in the Republic of Kazakhstan during its three-month stint in the Astana Expo 2017 with the signing of a memorandum of understanding (MoU) between AccoBiotech Sdn Bhd and MediLab LLP worth up to US$50 million.
AccoBiotech, a Malaysia-based medical diagnostic test kits manufacturer, plans to penetrate the Central Asia market with Kazakhstan as its first venture in the region.
Its director and chief financial officer Datuk Petrus J.R said the medical diagnostic test kits are expected to be available in Kazakhstan by 2018.
“Currently, we are working on the registration process with the Ministry of Healthcare Kazakhstan, which would take about six months,” he said in a press conference today after the MoU signing ceremony between AccoBiotech and MediLab.
Under the MoU, MediLab will market and distribute AccoBiotech’s medical diagnostics test kits in Kazakhstan with an expected turnover of US$30 million to US$50 million over a five-year period.
AccoBiotech chief executive officer R. Sivalingam said the company develops and manufactures a total of 23 types medical test kits and it plans to sell eight types of kits to Kazakhstan.
“These kits would include syphilis test, Hepatitis test and other test kits,” he said, adding that the company also export its products to Indonesia, Vietnam and the Philippines.
AccoBiotech, established in 2010, manufactures diagnostic kits that are used to detect various types of diseases within a few minutes, including HIV, H1N1, dengue, malaria, Hepatitis C and Influenza A/B.
Meanwhile, MediLab is a subsidiary of Mediker Group of Companies, which is the largest private healthcare company in Kazakhstan.
MediLab director Aliya Dauletovna said the company is looking forward to work with AccoBiotech to improve the healthcare industry in Kazakhstan.
She added that MediLab also plans to export the medical diagnostic test kits to Russia and Spain in the next few years. – AFP