Time: October 29, 2018
Baxter, a global medical products company and an innovator in renal care, has signed an agreement with the Olayan Group, a private multinational enterprise, on increasing its investment in Baxter Company Limited (BCL), a joint venture and manufacturing plant of both companies in the southern region of Saudi Arabia.
Baxter and Olayan established their partnership 10 years ago to build a state-of-the-art manufacturing facility to produce medical solutions for peritoneal dialysis and IV solutions, which currently serve more than 1,500 renal dialysis patients in the Saudi region. In the future, the factory will expand its supply beyond Saudi Arabia to the entire Middle East as part of a global supply chain ecosystem.
The agreement underscores the partners’ commitment to Saudi Arabia and the region to further improve clinical outcomes for a wide range of patients suffering from chronic kidney failure, in addition to expanding capacity in the current manufacturing facility.
“For more than 60 years, Baxter has partnered with the nephrology community to focus on pioneering care in both hemodialysis and peritoneal dialysis,” said Mazen Dalati, general manager of Baxter Middle East Africa. He added: “The agreement with Olayan is an important milestone on our way to bring that pioneering spirit to Saudi through new therapies and remote patient management.”
Baxter is bringing into this venture Claria with Sharesource, a new technology that allows remote monitoring of peritoneal therapy patients while in their home.
Sharesource extends health care providers’ reach by allowing visibility to their home patients’ adherence patterns, which may allow for earlier intervention. The telehealth platform was introduced to the Saudi market in 2016. It is the only globally available two-way technology that enables health care professionals to remotely monitor and manage therapy from their clinic. Furthermore, Sharesource includes the ability to change a patient’s prescription setting remotely.
Baxter and Olayan consider themselves partners of the Ministry of Health in their joint effort to facilitate Saudi Arabia’s Vision 2030 by providing lifesaving therapies to patients. Additionally, Baxter and Olayan said they are committed to localizing the latest technology and know-how for the benefit of the Saudi market.
Every day, millions of patients and caregivers rely on Baxter’s portfolio of critical care, nutrition, renal, hospital and surgical products. The company’s products, technologies and therapies are available in over 100 countries.
Meanwhile, with offices in Saudi Arabia, Europe, and the US, the Olayan Group’s global investment team focuses on public and private equities, real estate, fixed income securities, and other specialized assets. The commercial side of the group comprises more than 40 companies.