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Green Cross Medical Science inks $37 mn blood bag supply deal in Indonesia

Collected: 2018.02.18

Distributed: 2018.02.19

Source: Go Direct

[Photo provided by Green Cross Medical Science Corporation]

South Korea’s diagnostic reagents and instruments maker Green Cross Medical Science Corp. (GCMS) said on Saturday it has clinched a 40 billion won ($37 million) worth deal from Indonesia-based PT. Mitra Global Hanindo (PT. MGH) to supply blood bags and transfer related manufacturing technologies.

Thanks to the latest deal, the Korean company would take home 40 billion won amounting to 46 percent of its annual revenue in 2016 – 6.1 billion won for blood bags, 30.7 billion won for unfinished blood bags, and 3.2 billion won for technology transfer and royalties.

Under the contract, GCMS will supply blood bags from the second half of 2018 and unfinished blood bags from the first quarter of 2019 to 2029 and conduct consulting service for PT. MGH on manufacturing facilities and equipment which will be placed in PT. MGH’s new blood bag factory under construction.

Once the factory construction is completed next year, PT. MGH will be the only manufacturer of blood bags in Indonesia that supplies its products to Indonesian Red Cross Society dubbed Palang Merah Indonesia (PMI).

“Our accumulated manufacturing technology will help Indonesia produce blood bags in the country,” said a GCMS official.

By Kim Hye-soon and Lee Ha-yeon

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