GE Healthcare and Nycomed in Russian joint venture
pharmafile | April 27, 2010 | News story | Sales and Marketing | GE Healthcare, Nycomed
GE Healthcare and Nycomed have formed a joint venture to market and distribute GE Healthcare’s medical diagnostic contrast agents in Russia and the Commonwealth of Independent States (CIS).
Expected to begin in the second half of 2010, the collaboration includes setting up a new Moscow-based company.
This will sell, market and distribute GE Healthcare Medical Diagnostics’ computed tomography (CT), x-ray and magnetic resonance (MR) contrast media products, which are used to enhance a doctor’s ability to distinguish structures and tissues in medical imaging.
“This joint venture, with such a strong partner in Nycomed, signals GE Healthcare’s firm plans to grow in this important strategic market of Russia and CIS,” said Reinaldo Garcia, president and chief executive of GE Healthcare for Europe, Middle East and Africa. “It will bring GE Healthcare closer to its customers in Russia and is further demonstration of the company’s commitment to the Russian medical and healthcare community.”
GE Healthcare’s contrast media products are currently marketed in Russia and CIS through a distribution agreement with Nycomed, and the new joint venture is intended to further enhance the presence of these key products on the Russian and CIS markets.
Håkan Björklund, chief executive of Nycomed, commented: “With GE Healthcare we found an ideal partner and this joint venture offers an excellent strategic fit and further strengthens Nycomed’s commitment to the Russia-CIS region. The investment underlines our belief in the long-term prospects of the healthcare market in Russia-CIS and optimally serving this market is vital for Nycomed.”
It is expected that the new company will have around 40 employees in its Moscow offices and across the region it serves. Further details of the agreement were not disclosed.
The move from GE Healthcare follows the company’s 2009 announcement that it is partnering to produce in Moscow, Russia’s first locally-assembled advanced 16-slice computed tomography (CT) scanner, and the inauguration in the city of GE Healthcare’s advanced medical technology training centre for doctors.
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