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Medtronic announced Monday that it acquired a majority stake in Biostar, which will distribute the device maker's products formerly distributed by Medicall Biomedikal in Turkey. Majid Kaddoumi, vice president of Medtronic Middle East, Turkey and Africa, said that "in key emerging markets like Turkey, creative collaborative ventures like these can help us address the barriers to treatment," adding "we believe this new relationship will bring us closer to the healthcare system...and will help increase access to available therapies."
Medicall, which has been a Medtronic distributor in the country since 2003, handles the company's cardiac rhythm disease management, atrial fibrillation solutions, structural heart and renal denervation product lines. Under the transaction, of which financial terms were not disclosed, 85 of Medicall's approximate 130 employees will transfer to Biostar. Ayhan Öztürk, previously Medicall's CEO, has been appointed as managing director of Medtronic Turkey, while Atilla Kucukyalcin, former Medicall vice president of sales and marketing, will become the head of the Medtronic Turkey CardioVascular Group.
According to Medtronic, the move is intended to support its "strategy to get even closer to the customer, improve and increase efforts in market development, and accelerate growth." Further, the device maker said that its collaboration with Medicall in joint ownership of Biostar will reduce treatment barriers and will open up new opportunities for training and education to better meet the needs of physicians and patients in Turkey.
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