Turkish medical firm eyes Middle East market

Dünya Executive - - BUSINESS -

Alvimedica aims to enter the Middle East market thanks to its new production plant, set to open next month, which will triple Turkey’s stent usage in a year and export the rest, Leyla Alaton, president of the company told Anadolu Agency. The company will produce 900,000 stents per year once the facility begins operating at full capacity, Alaton said. “Unfortunat­ely, with diabetes on the rise in the Middle East, the importance of our product is better understood,” Alaton noted. “Therefore, our way is clear.” The new plant will create 1,000 jobs of which around 70 percent will be women, “due to the nature of the business,” Alaton said.

The size of the stent market in Turkey is around $120 million while it is $8 billion, or 10 million units, globally. Alvimedica’s new stent production factory will also help to reduce the country’s current account deficit by around $200-300 million, according to a company official.

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