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28 Apr 2019| Posted by Morris | In Materials and Products

The AGM and the election of a member of the Board of Directors Al Kubaisi: Diversify products and meet local market needs
Modification of production lines to keep up with safe syringes

Doha: The Ordinary General Meeting of Qatar German Medical Devices Company approved the report of the Board of Directors on the company's activity and financial position for the fiscal year 8102. All the agenda items were approved and Mr. Khamis Mubarak Khamis Al Kuwari was elected to the current Board of Directors for the period Remaining until 1202.

Mr. Hamad Khamis Al Kubaisi, Chairman of the Board of Directors, said in his speech to the meeting that the company was able during the year 8102 to achieve sales of $ 4.11 million riyals compared B8. 11 million riyals in the previous year, to adopt the diversity of products and meet the local medical market needs a policy where sales amounted to Sector Medical state 29% of total sales. The company was able to reduce net loss by 14% and reduce its operating loss for the year by 15% to SR18.8 million compared to SR8.71 million for the previous year.

He noted that the composition of provisions for receivables to customers in the siege countries worth 38.1 million riyals, and the continuation of the company's management to work to increase profit margins and reduced expenses significantly, which reflected positively on the reduction of these losses and the company has succeeded through continuous cooperation with the centers of the Hittite, scientific and medical sector in the country to achieve the following: success in the new patented safe syringes in cooperation with Qatar University and Gary to modify production lines to fit the model of safe syringes. The company, in cooperation with Hamad Medical Corporation and Ambulance Services, developed and produced various colored syringes for the first time after more than a year of trials to help doctors quickly identify different types of drugs during patient injections and in accordance with ASTM standards and standards. And the production of needles used in the withdrawal of drugs and their supply to Hamad Medical Corporation for the first time is the needles of syringes are not sharp. The company is currently providing medical sterilization services to two medical supplies companies in the UAE.

He noted that the company was discussing with the Qatar Development Fund to use the company's products as part of Qatar's relief aid.

The company is also in contact with Hamad Medical Corporation and the Ministry of Public Health to sign framework agreements to supply the company's products directly in order to support the national product and to secure the needs of the medical sector of medical supplies.

He pointed out that in addition to the pharmaceutical trade activity, we are in the process of ending the license of the drug depot at the company headquarters during the month for the final inspection. All requirements were met by the pharmacy department and the pharmacist was appointed.

The company is actively engaged in the trade of medical supplies and contracted with the companies producing and participating in tenders with the Hamad Medical Corporation and the Ministry of Health. He also referred to the provision of specialized training services in the field of technical training for medical staff after the signing of the exclusive agency contract with the authorized service provider of HMC, Eastwood Park, UK. The training activity was added to the commercial register of the company and as a service provider for Hamad Medical Corporation.

He said that the company faced great challenges to provide the raw materials and raw materials needed for production and the search for economic alternatives to them. The company proved its ability to reduce its noticeable losses and reduce administrative expenses

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