|Funding Required||RM1,000,001 to RM2,000,000|
|Description||Vitramed has built a name for itself in Australia, Malaysia and Singapore as a specialist supplier of exciting products to those in the gastrointestinal fields of medicine.
Our success has been built on several factors:
• Ensuring our customers see us as reliable and trustworthy.
• Making GI our speciality allowing us to build a good understanding of our customers in the industry.
• Maintaining a small number of well trained staff and supporting them with technology.
• Truly having our customers’ interests at heart, in particular by only supplying products that we believe in.
• Focusing on supplying innovative new equipment rather than trying to compete selling commoditised items
Vitramed provides latest technology that is used during emergency, diagnostic and treatment in patients with GI related diseases
|Business Opportunity||80 to 90 percent of all hospitals that has an endoscopic unit in Australia, Malaysia and Singapore are Vitramed’s clients. Vitramed also participates in all major gastro hepatology and surgical conferences/exhibition/
In 2017, Vitramed in Indonesia was incorporated. Vitramed is expected to continue to grow in these territories in years to come with introduction of new products and devices. Among the new products including the plastic bioabsorbable stents for pancreatic/biliary strictures, medication and treatment for h.pylori resistant patient, constipation treatment as well as for treatment of UC and Chron’s disease. In addition to that, Vitramed is in the process of setting up its manufacturing department for its supplemental food for patients with Colonic or Gastro diseases.
|Revenue / Business Model||The business in Vitramed is divided to several different types of products.
1. Diagnostic devices – Urea Breath Test System for detection of helicobacter pylori, Hydrogen breath test for detection of intolerances in the GI tract
2. Emergency – Danis Stent for esophageal varices, EndoClot new hemostatic system for stopping GI bleeds
3. Accessories – common and new accessories related to endoscopy including biopsy forceps, polypectomy snares, injector needles, needles and endoscopic surgical accessories, ERCP accessories
4. Treatment – Infrared coagulator for Haemmorhoids (internal and external)
5. Medication – Compounded medication treatment (Ulcerative Colitis, Chron’s, H.Pylori, Constipation)
|Management Team||Management Team including Directors who perform weekly meeting on performance and issues and operational decision making
Sales is managed by the General Manager – Head of Office
Sales Team comprises of Manager and Product Executives – Main role to drive sales
Support staff from office as Business Development Executives – Product Registration, Training, Administrative, Maintaining Stocks
Outsourced Finance staff – to manage Financial matters
|% Equity Allocation||20-25% stake in Vitramed (Asia) Sdn Bhd, which would give substantial shareholdings in other territories as Vitramed Asia would hold corporate shareholding on the rest as well|
|Expected ROI||Expected ROI is between 2 to 3 years of operations|
|Risks and Mitigation||1. Technological advancement which would make products less competitive – continuously improve products to upgrade devices
2. Operations does not meet expected sales – Continuously monitor and weekly meeting is part of the SOP, would send managers from HQ to run operations if necessary
3. Insufficient funds to expand in those territories due to demographics (political, population, government regulations) – Funds to be transferred from HQ to support each territories
|Exit Strategies||1. Listing the Group into the stock exchange
2. Disposal of Company’s assets
|Business Address||xxxx Petaling Jaya, Selangor|
|Contact Person||Suresh Ratanam|