SMT strengthens presence in Latin America by acquiring a stake in Brazilian company

Latin America

MUMBAI: Medical device company, SMT (Sahajanand Medical Technologies) has acquired a majority stake in Brazil-based Zarek Distribuidora De Produtos Hospitalares, through its Ireland subsidiary.
Zarek is a sales and 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.
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.
SMT’s corporate strategy head, Gaurav Goel said, “The acquisition is a step towards creating direct presence in major markets across the globe. Brazil is the largest market in Latin America, and a key market for us”.
The drug-eluting stent market is expected to be over $100 million by 2020. Brazil shares land borders with Argentina, Bolivia, Colombia, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela and 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 more efficiently.

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