Tokyo -- Terumo Corporation (TSE: 4543 Section 1) announced details of the establishment of Terumo Russia LLC, a subsidiary in Russia. Scheduled to commence operations from April 1, 2013, the company will have the mission of expanding business activities in Russia.
As a part of efforts to promote business in Russia, the Company has to date engaged in sales and marketing activities through its wholly owned subsidiary Terumo Europe N.V. In 2006, steps were taken to establish a representative office in Moscow for the purpose of researching the Russian medical market.
The Russian government is promoting its health-care reform as a part of an overall national strategy. As a result of this strategy, the scale of the medical device market in Russia is projected to double*1 from approximately US$6 billion in 2011 to around US$12.2 billion in 2016. With cardiovascular disease currently the leading cause of death,*2 significant advances in the promotion of interventional treatments and cardiovascular surgery are also anticipated.
Engaging in sales and marketing activities that are deeply rooted in the local market, the Company is targeting an increase in sales from ¥1.7 billion in fiscal 2011 to ¥5.0 billion in fiscal 2016, focusing mainly on its mainstay catheter as well as artificial lung-related products.
Terumo has identified the long-term goal of becoming a company with a global presence. To achieve this, the Company is working to expand its business in a newly emerging market. The decision to establish a local sales subsidiary in Russia is therefore one of several priority measures designed to achieve its long-term goal.
Espicom survey: extract from the JETRO Sensor, May 2012 edition
Causes of death in Russia (2010): 1. Cardiovascular disease 61.9%; 2. Cancer 15.7% (Source: The State Committee of the Russian Federation on Statistics; March 2012 Extract from "the Medical Device Market and Regulations in Russia" the Japan External Trade Organization (JETRO)
Profile of the newly established subsidiary in Russia
|Name:||Terumo Russia LLC|
|Capital:||30 million rubles (approximately 750,000 euro)|
|Equity:||Terumo Europe N.V.*3 100%|
|Business Activities:||Trade (export and import), wholesale, repair, and after-sales service of medical devices|
|Established:||February 15, 2013|
|Business Commenced:||April 1, 2013|
Terumo Europe N.V. is a wholly owned subsidiary of Terumo Corporation.
Terumo (TSE: 4543) is a global leader in medical technology and has been committed to “Contributing to Society through Healthcare” for 100 years. Based in Tokyo and operating globally, Terumo employs more than 28,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large.