a joint venture between Tamer Group and Mölnlycke
Jeddah, Saudi Arabia, 16May2024: Mölnlycke Health Care, a world leading MedTech company, has expanded its commitment to operations in the Middle East by extending its stake from 33.3% to 60% to become majority shareholder in Tamer Mölnlycke Care – a joint venture with Tamer Group, the market leader in healthcare distribution in the Kingdom of Saudi Arabia.
The Tamer Mölnlycke Care joint venture was initiated in 2021 with the agreement to develop a customised surgical procedure tray factory in Saudi Arabia, with first production expected in Q4 2024.
The increased investment allows for an expansion in the range of Mölnlycke products manufactured and distributed in the country and to the neighbouring region. Adding drapes and gowns, emollient range and selected wound care products to the offering allows more healthcare professionals and patients in the region to benefit from Mölnlycke products and solutions.
Zlatko Rihter, CEO, Mölnlycke Health Care comments: “To ensure we meet customer demand, geographical expansion is a strategic priority for Mölnlycke Health Care. Increased investment in our existing long-term partnership with Tamer Group will importantly enable healthcare professionals and patients in Saudi Arabia access to our quality products and solutions helping to improve outcomes, and is a step closer to realising the potential of this rapidly growing healthcare market.”
Speaking on behalf of Tamer Group, Chairman Ayman Tamer, adds: “This investment is key to enabling future growth in the region as outlined in the Saudi Vision 2030 – supporting the regional healthcare ecosystem, including exporting goods to the Middle East and Africa region, whilst developing local skills and expertise.”
Mahmoud Wagih, CEO, Tamer Mölnlycke Care, comments: “I am delighted to lead this business where Mölnlycke and Tamer will build a strong, long-term successful joint venture, bringing superior health care solutions to our region.”
The Tamer Mölnlycke Care joint venture is a long-term agreement between two organisations who have been working in partnership over the past decade; and are committed to meeting customer demand in the evolving healthcare landscape of Saudi Arabia and the wider region.
ENDS