Labtec, a leading player in design, manufacturing, installation and commissioning of laboratory furniture and a part of Masharie - a subsidiary of Dubai Investments - is targeting 10 per cent year-on-year growth in the next three years, riding on the crest of new healthcare projects in the UAE and Saudi Arabia.
 
The company’s growth goes in line with annual projection for the GCC healthcare market, which is set to rise at an annual rate of 11 per cent, said the company in a statement.

Investments in the UAE healthcare sector has soared from $3.2 billion in 2012 to $11.9 billion in 2015; while Saudi Arabia has new healthcare projects worth over $3 billion under way, it added.
 
Amidst this growth curve, Labtec recently won a new contract worth over Dh18 million ($4.9 million) for the supply and installation of laboratory furniture at The Petroleum Institute in Abu Dhabi, according to the company.

The project involves supply and installation of modular laboratory furniture with specially designed service riser and services spines, capable of accommodating various gases, water, data and electrical services.
 
The project is scheduled for completion by end of September this year, it said.
 
An ISO-9001 certified company, Labtec operates a 8,000-sq-m facility in Sharjah, UAE.

Last year, the company achieved sales of Dh19 million ($5.17 million) and now eyeing aggressive expansion across GCC and Asia amidst surging demand for laboratory solutions.
 
Muhammad Tariq, the general manager of Labtec, said the current spate of new healthcare projects in the GCC states is leading to exponential demand for high-quality laboratory furniture.

"The company sees this as a great opportunity to further build on its market leadership. Our expertise in both the healthcare and educational spheres augurs well for the growth," noted Tariq.

"The new contracts are a testimony of Labtec’s market reputation and adherence to delivery standards and schedules. We are confident of continuing this growth thrust," he added.
 
The UAE firm also won contracts to provide laboratory furniture at Ghayathi Community Hospital, Al Rahba Hospital, Rashid Hospital Trauma Centre extension, EVA Pharmaceuticals in Egypt, besides supply and installation of laboratory furniture for seven clinics in Saudi Arabia.
 
According to Tariq, Labtec has finalised plans to supply Forest Stewardship Certification (FSC) products in the GCC as part of its green building concepts.

Since its inception in 1981, Labtec has carved a niche in laboratory furniture and fittings, fume cupboards, special counters, among other products used in the laboratories of hospitals, schools, universities, research centres, industries, he noted.

The company now plans to introduce a unique media ceiling and media column system in laboratories across the GCC, designed and produced by Ludi, a Swiss company, added Tariq.-TradeArabia News Service