Nipro Asia Pte Ltd, exclusively owned by Nipro Corporation, Japan, and JMI Marketing Ltd, one of the companies of JMI Group in Bangladesh, have formed a joint venture called Nipro JMI Marketing Ltd. This has been deemed an exceptionally promising milestone in the medical devices market in Bangladesh.
Despite the Covid-19 situation, Japanese Conglomerate Nipro Corporation has invested around Tk128 crore ($15 million) as foreign direct investment (FDI) by merging with JMI Group to launch Nipro JMI Marketing Ltd. With this investment Nipro Corporation's total investment in JMI Group stands at around Tk680 crore ($80 million), read a press release.
Nipro JMI Marketing Ltd will market the medicine and medical equipment manufactured by JMI Group on the local market in Bangladesh. Moreover, the company will source essential medical equipment across the globe and market the products at home and abroad after ensuring their quality.
A launching ceremony of Nipro JMI Marketing Ltd was held at JMI Group's head office in the capital's Banglamotor area on Tuesday morning. A cake was cut at the event in the presence of high officials from both Nipro Asia Pte Ltd and JMI Group.
At the event, Nipro Asia Pte Ltd representative Shigetomi Hisao said, "JMI Group has achieved our trust by producing quality products. That is why we have not hesitated to further invest with the company. We hope that the Nipro JMI Marketing Ltd like our other ventures with the JMI Group will satisfy the consumers by ensuring the products' quality."
JMI Group Managing Director Md Abdur Razzaq said the new FDI from Japanese Nipro Corporation proves the quality of JMI Group as well as the products they manufacture.
"We firmly believe that the new partnership will make our commitment to the healthcare sector in Bangladesh even stronger; ensuring our capability of providing quality customer service, smoother distribution and efficient sales and marketing process," he added.
JMI Group is a leading manufacturer and supplier of medical devices and pharmaceuticals in the country. It has been producing essential medical devices through joint venture programmes since 1999.
Nipro Corporation, listed on the first section of the Tokyo Stock Exchange, Japan, is one of the biggest manufacturers of medical devices, pharmaceuticals and pharma-packaging in the world. JMI Group and Nipro Group have collaboratively worked on the development of the healthcare sector in Bangladesh with its joint ventures: Nipro JMI Company Ltd, Nipro JMI Pharma Ltd, Nipro JMI Dialysis Centre, and JMI Syringes and Medical Devices Ltd. Nipro JMI Marketing Ltd is the fifth joint venture established in the partnership between JMI Group and Nipro Group.