Gulf Med to distribute HoMedics products
Dubai, June 1, 2008
Gulf Med FZE, the wholly-owned subsidiary of Gulf Drug Establishment owned by Dr Hasan Al Moosa family will partner with the US-based HoMedics.
Ho Medics is the global leader in personal wellness solutions. The partnership will cater to the increasing demand for affordable personal health care and wellness products in the region, saida n official spokesman.
Under the terms of the partnership, the UAE-based company, Gulf Med FZE, 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 health care market is growing at a rapid pace.
“Personal wellness market is a relatively new category in the Middle East health care 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,” said managing director of Gulf Med FZE Dr Zeyad Al Moosa.
Elaborating on the partnership, he said that initially Gulf Med will focus on the UAE market, which is the second largest health care market after Saudi Arabia, and develop other GCC markets in the second phase.
“Over the years, the UAE has witnessed significant expansion in health care and wellness facilities, which in turn has positively catalysed the appeal for healthy living. The total health care 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,” said Dr Zeyad adding that the potential for growth has also exponentially increased with the UAE gradually becoming a destination for health care and wellness.
Gulf Med had done soft marketing and road shows of HoMedics products in the UAE in partnership with leading pharmaceutical/retail outlets and the results have been extremely encouraging.
Commenting on the partnership with Gulf Med, international sales manager of HoMedics Stuart Burrows said the Middle East now offers a robust market for health care and wellness products compared to a few years ago with increased spending power.
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. – TradeArabia News Service