Business | General
Gulf Med partners with US-based HoMedics
Gulf Med, the wholly-owned subsidiary of Gulf Drug Establishment - the pioneering pharmaceutical and healthcare entity, said it has partnered with the US-based HoMedics, global leader in personal wellness solutions, to cater to the increasing demand for affordable personal healthcare and wellness products in the region.
- Staff Report
- Published: 00:04 May 30, 2008
Dubai: Gulf Med, the wholly-owned subsidiary of Gulf Drug Establishment - the pioneering pharmaceutical and healthcare entity, said it has partnered with the US-based HoMedics, global leader in personal wellness solutions, to cater to the increasing demand for affordable personal healthcare and wellness products in the region.
The UAE's total healthcare market is reportedly estimated to touch $12 billion by 2015 from the current over $3 billion and wellness products and services sector will have a salient role to play in this growth market.
Under the terms of the partnership, the UAE-based company, Gulf Med, will be the sole distributors for HoMedics products for the UAE, Qatar, Oman, Bahrain and Jordan. For HoMedics, the partnership offers a debut foray into the Middle East market where healthcare market is growing at a rapid pace.
Dr Zeyad Al Mousa, Managing director of Gulf Med, said, "Personal wellness market is a relatively new category in the Middle East healthcare sector, but with the rise in disposable incomes, increase in population and a fast emerging health and wellness conscious lifestyle, the demand for personal wellness products and solutions is set to grow exponentially in the coming years."
Focus
Elaborating on the partnership, he said that initially Gulf Med will focus on the UAE market, which is the second largest healthcare market after Saudi Arabia, and develop other GCC markets in the second phase.
HoMedics offers an assortment of wellness products across the world, from state-of-the-art digital blood pressure monitors to sound spas, sleep products, relaxing massaging recliners and luxurious neck or shoulder massagers to super-accurate scales.
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