Chairman of Al Sawari Holding Sheikh Turki bin Faisal bin Qassim Al Thani
Al Sawari Holding, the Qatari holding company which operates globally across a number of sectors, announced that its newly-branded health care 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 operations cover pharmaceutical distribution, manufacturing, health care centres, retailing and co-marketing.
Qatar’s pharmaceutical market alone has seen compound annual growth rate of 12.6 per cent over the past decade, reaching $709m in 2015. The MENA region currently represents around 6 per cent of the world’s population. Its healthcare market, which represents 2-3 per cent of the global pharmaceutical market, is currently valued at approximately $35bn and is expected to expand by a compound annual growth rate of approximately 6-9 per cent between 2014 and 2019.
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. 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.
“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,” said Sheikh Turki bin Faisal bin Qassim Al Thani, Chairman of Al Sawari Holding.
