Vygon Opens Turkish Subsidiary

Vygon joins forces with its Turkish distributor to meet demand for complex medical devices in fast-growing economy

Vygon joins forces with its Turkish distributor to meet demand for complex medical devices in fast-growing economy

Ecouen, France, September 14, 2015 – Vygon, the specialist single-use medical devices group, today announces the opening of a subsidiary in Turkey. Located in Ankara, the country’s administrative and academic capital, the registered office of Vygon Medikal has been in operation since the end of July.

The purpose of this new subsidiary, which is the Group’s first in the Middle East region, is to promote and market its full range of medical devices through communication and training initiatives. With a population of 80 million, the country has numerous trade links with the European community and is experiencing a strong growth rate of 4%[1] <#_ftn1> . The country’s spending on healthcare has increased significantly in recent years; rising to nearly 7% of GDP in 2010[2] <#_ftn2> . The Turkish subsidiary will be managed by Servet Kurumoglu, CEO of Vygon Medikal. Staff at the head office in Ankara will be supported by a network of offices and sales teams in major centers such as Izmir and Adana, as well as the dynamic city of Istanbul.

“After over 30 years of business growth in Turkey, we have decided to join forces with our distributor to create Vygon Medikal,” said Stéphane Regnault, chairman of Vygon’s board of management. “We are delighted with the creation of this new subsidiary, which follows the opening of our Dubai office in 2004. It reflects the Group’s desire for consolidation in the high-potential markets of the Middle East, working side by side with our local partners. Our aim is for 20% of Vygon Group revenue to come from the Asia-Middle East region by 2022.”

“By establishing a direct presence in-country with local staff who are imbued with the culture and market knowledge, Vygon hopes to gain maximum benefit from the momentum in the market and bring its expertise to hospital practitioners,” explained Christophe Deffontaines, Vygon’s vice president, Asia Pacific.

Turkey, a buoyant market for medical devices In 2012, the Turkish market for medical devices was estimated at €1.6Bn ($1.8Bn), with an anticipated annual growth of 4.8% between 2012 and 2019. According to estimates, the market is expected to be worth €2.3Bn ($2.5Bn) by 2019. This buoyancy in the market and the growing demand makes Turkey one of the most attractive markets in the region.

Close to 85% of the medical devices used in Turkey are imported. There is strong national demand, but local output is essentially focused on low value-added products. France is at eighth position in the medical device market and currently accounts for 3% of Turkey’s medical device imports.

CE marking is accepted in Turkey as it is in Europe, with the exception of made-to-measure medical devices, devices currently undergoing clinical trials and in vitro diagnostic medical devices. Free trade has been possible since 1996 under an agreement between the European Union and Turkey. In addition, Turkey’s regulation of medical devices is rooted in a number of European directives.

The needs of the health care sector are symptomatic of Turkey’s economic and social development, with ever-increasing expectations in terms of quality and access to healthcare. The country is investing heavily in developing the sector and improving access to both public and private healthcare.