Tomorrow, in the Emeq Hefer industrial zone, Promedico, controlled by the Jesselson family, will inaugurate a pharmaceutics plant which will compete primarily with the products of Teva, and also with corresponding products found with various importers. The new plant, named Cure Medical, was set up jointly with Mor - a subsidiary company of the General Health Fund. Promedico holds a 70% stake and Mor 30%.
Cure Medical’s principal products are transfusion solutions and sterile products, drugs, and wasting medical equipment.
Teva, which holds the lion’s share of the market in transfusion solutions, manufactures them at its Teva Medical plant, and also imports similar solutions from Baxter.
Ten million dollars were invested in the set up of the new plant, including lot, building and equipment. The partners financed construction out of their own resources. The plant area is 7,500 sq.m., and the area of the lot is 10 dunam (2.5 acres).
In recent months, Promedico’s management completed contracts for the sale of the new plant’s products - to hospitals and medical institutions - in a $4-5 million volume which in the next twelve months will secure it twenty percent of the market.
Published by Israel's Business Arena December 6, 1998