Hospitech Confident Of Good Sales For Its Medical Devices

KUALA LUMPUR, March 28 (Bernama) -- Hospitech Resources Bhd, Malaysia's leading home-grown integrated designer, developer, manufacturer and distributor of disposable generic and critical care medical devices, expects to introduce its latest critical care medical catheters this year, said its managing director Jimmy Goh.
"Hospitech expects these catheters to generate significant sales in the first 12 months as they are confident that the range of products, especially the high-end, cost-efficient critical care disposable generic and critical care products will be able to generate good sales in the existing markets," Goh told reporters after the launch of the company's prospectus, here Tuesday.
Goh said that the global medical devices market was worth more than RM850 billion.
"The brand new catheters that would be marketed are namely, Ryles Catheter, Stomach Catheters, Female Catheter and Infant Feeding Catheter and these catheters are specially designed for use in complex medical procedures involving gastrointestinal and urinary catherization."
He said the group will also commence research and development for its Renal Care System this year and expected the medical devices to be commercially available in 2008. It will also continue with the development of its Blood Diagnostic System which is expected to be launched in 2008 also.
Hospitech which is enroute for listing on Bursa Malaysia said part of the proceeds from its share offer exercise will be used for research and development.
"The growth in the range of medical devices and their increasing sophistication is fast expanding as a key market to growth, therefore, we have allocated a sum of RM12.1 million from the proceeds of the listing to be used for R&D activities such as plant and machinery investment," Goh said.
Asked on market expansion, he said that by 2008, Hospitech will expand its market to Japan and United States to further market their upcoming products namely, Anaesthetic Filter, Blood Tubing Line, and Renal Care System.
Currently, Hospitech markets its medical devices to Australia, Bangladesh, Brunei, China, Columbia, Hong Kong, Singapore and Taiwan.
Established in 1985, Hospitech has two wholly-owned subsidiaries namely Hospitech Manufacturing Services Sdn Bhd (HMFG) and Hospitech Marketing Sdn Bhd (HMKT).