TOKYO, Mar 28, 2018 - (JCN Newswire) - Hogy Medical Company Limited and Mitsubishi Corporation (MC) hereby announce that they have entered into a comprehensive business alliance in the medical business field.
The domestic business environment poses a severe challenge for hospitals in Japan in light of the country's aging population and rising medical costs. Meanwhile, overseas markets where demand for new medical services continues to increase show tremendous potential for growth.
While Hogy Medical has been developing products that contribute to the safety of patients and healthcare staff and to the improvement of hospital management since its establishment in 1961, MC has built up an extensive network, both domestically and abroad, over many years and has amassed a wealth of experience engaging with diverse sectors in overseas markets. Given that backdrop, both partners felt that there is much to gain in terms of mutual benefit should they pool the knowledge and individual strengths that they have cultivated to develop a new medical consumables and services business.
The alliance will focus on the following three areas as both companies seek to meet changing demands.
1. Developing Business for Medical Consumables in Overseas Markets
Expand and open up new markets for Hogy brand products, including potentially establishing a joint venture; identify companies from which to procure kit products; and create alliances with medical consumables manufacturers for the purpose of manufacturing new products.
2. Establishing Business for Reprocessing of Single Use Devices (SUD)
Explore the possibilities for establishing SUD reprocessing* business in the areas of manufacturing, distribution, collection, and sales, in light of projections that the demand for SUD reprocessing is expected to increase in Japan due to its cost advantage and effective resource utilization as well as its positive impact on environmental conservation.
*SUD Reprocessing refers to the collection, testing, disassembling, decontamination, and sterilization of used Single Use Devices (SUD) and reprocessing them into SUDs that can be resold for the same purpose as their original use. Japan's Ministry of Health established new regulations for the reprocessing business on July 31, 2017.
3. Developing Next Generation Management Support Solutions for Acute Care Hospitals
Draw on the customer base and know-how established and cultivated by both companies to develop new generation management support solutions that will contribute to improving the management of the whole supply chain at acute care hospitals.
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Mar 28, 2018 18:13 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
Sectors: BioTech, Engineering
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