Business

Medical Disposables promises another record performance for 2018/19

Tuesday, August 28, 2018

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Health care and consumer products distributor Medical Disposables and Supplies Limited (MDS) hopes to surpass its $2-billion revenue performance for the upcoming financial year 2018/2019 from the addition of products while keeping costs relatively constant.

General manager of the company, Kurt Boothe, in a statement adjoining the company's 2018 annual report said MDS will be aiming to expand its consumer division while creating a more efficient medical division in an attempt to align all revenue-generating areas of the business with the same efficiency as its pharmaceutical division.

“The improved physical facilities, including the expansion of our storage capacity and the introduction of smarter workspaces, will contribute greatly to achieving this desired alignment,” Boothe reasoned.

During the financial year ended March 31, 2018, MDS launched its consumer division and was appointed distributor for United States-based technology company 3M. The partnership resulted in MDS expanding its portfolio in disposable supplies and medical instruments to include the 3M Avagard Surgical and Healthcare Personnel Hand Antiseptic, 3M Surgical Drapes, 3M Steri-Strips.

The company also solidified an agreement with GlaxoSmithKline in the consumer segment and has since streamlined business processes with the guidance of advisory firm Ernst and Young to complete a company-wide review of its operating procedures.

“This was all as a direct result of our 2017 strategic initiative, 'Thinking inside the Box', which challenged us to improve our organisational structure, starting from the top.

“With new products, new segments and new areas of operation, it was vital to ensure that there were no gaps in leadership and management oversight. Having the required coverage has allowed us to streamline operations and apply keen focus to areas such as special projects and quality assurance,” the general manager said.

MDS, an islandwide distributor of health care and consumer products, has a catalogue that spans pharmaceuticals, vaccines, injectables, hospital supplies, medical disposable items, medical sundries, consumer products, and beauty items. The company's newest products include the Drysol topical antiperspirant therapy and the Nipro Elisio Dialyzer for the treatment of kidney disease.

For the financial year ending March 31, 2018, MDS continued to grow its income and diversify profit sources, led by improved operational efficiency. Revenues of the company for the first time totalled $2.05 billion, growing by $331.4 million or 19.3 per cent over 2016/17.

“We intend to continue through 2018/19 with the same vigour. Of course, we consider the 2017/18 success to be a direct result of the tireless effort of the entire team in ensuring that we not only maintain the MDS standard, but that we also continue to reinvent ourselves in a dynamic market,” Boothe said.

Assets of the company totalled $1.47 billion, a year-over-year increase of 21.4 per cent, with stockholders' equity of $673.1 million moving up by 19.4 percent over the year 2016/17.

— Karena Bennett

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