Mumbai: SMT (Sahajanand Medical Technologies private Limited) has acquired majority stake in Zarek Distribuidora De Produtos Hospitalares through its Ireland subsidiary company in October 2019. Zarek is a sales & marketing company based at Rio Grande Do Sul. Zarek’s product portfolio includes interventional cardiology and endovascular products such as coronary and peripheral stents, balloons and drug eluting balloons. This acquisition will help SMT enhance its market share with an increased on-ground presence and working closely with healthcare community.
SMT intends to invest in building additional manpower to promote company’s fourth generation drug eluting coronary stents Supraflex Cruz and Supraflex Star. SMT has recently got ANVISA approval (ANVISA is Brazil’s medical device market regulator) for these products.
Talking more about the deal, SMT’s Corporate Strategy Head, Gaurav Goel said, “SMT has been focussed on bringing quality medical devices across the globe in pursuit of its mission. The acquisition of ZAREK is a step towards creating direct presence in major markets across the globe. Brazil is the largest market in Latin America and is a key market for us. This acquisition would give SMT direct presence providing more flexibility in terms of customer service and engagement.”
SMT will invest to enhance its commercial footprint to become a market leader in Brazilian cardiovascular space
Zarek is a fast-growing organization and this acquisition will help to strengthen its position in Brazil market. CEO of Zarek, Diego Mucelin said,” I’m very happy to hold hands with SMT team. SMT is a large multinational company and world-renowned for its high-tech products. This partnership would help us to serve the entire Brazilian market more efficiently and quickly, providing the best medical devices care. I am sure that this step would turn us much stronger and competitive, creating more opportunities of business, jobs and international investments in Brazil.”
Brazil is one of the key markets for SMT and its also amongst the top ten markets for Interventional Cardiology in the world. The DES market is expected to be over 100 Mn USD by 2020. Brazil shares land borders with Argentina, Bolivia, Colombia, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela and it has free trade agreements with other large markets in Latin America. Brazil is also a member of the South American Common Market (Mercosur). This acquisition will help SMT cater to Latin America market more efficiently.
This partnership presents new strategic opportunities for both companies opening more avenues of business.