Trend setter of Japanese equity investment in Bangladesh’s healthcare sector

The “NIPRO-JMI Joint Venture” has become a trend setter of Japanese equity investment in Bangladesh’s healthcare sector since JMI Group, a leading conglomerate in the country, joined hands with Japan-based NIPRO Corporation, a leading global healthcare company, 12 years ago.

The Joint Venture started its business through manufacturing medical devices and later expanded to healthcare services, pharmaceuticals and product marketing sectors.

Around 5,500 employees currently work at five business entities under the joint venture initiative.

The manufacturing units under the NIPRO-JMI Joint Venture produce more than 100 types of healthcare products, including 25 that have been made in Bangladesh for the first time.

The entities under the Joint Venture regularly export their products to more than 40 countries, including many in Asia, Europe, Middle East, South America and Africa.

JMI Group Managing Director Md Abdur Razzaq founded the company in 1999. Currently, there are 42 entities under the conglomerate working in pharmaceuticals, medical devices, healthcare services, real estate, printing and packaging, product marketing, industrial gases, LPG, LPG cylinder and auto tank manufacturing sectors.

In its 23-year-long journey, JMI Group received a total investment of Tk 5,000 crore, including Tk 1,000 crore in foreign direct investments from Japan, South Korea, Thailand, Turkey and China.

On the other hand, NIPRO is engaged in manufacturing medical devices, pharmaceuticals and pharma-packaging. Now, NIPRO has 56 factories across the world and conducts marketing and sales activities in 190 countries.

The five entities

NIPRO-JMI Joint Venture’s first company NIPRO JMI Company Ltd was established in 2011. This is a 100% export-oriented medical device manufacturer, producing Blood Tubing Set and essentials for kidney dialysis patients.

After that, the Joint Venture invested in the NIPRO JMI Pharma Limited, making it the first-ever Japanese joint venture company in Bangladesh’s pharmaceuticals sector.

This entity manufactures and markets pharmaceutical products in line with the strict compliances of CGMp and WHO guidelines. NIPRO directly supervises and monitors Quality Assurance of the company.

The third, NIPRO JMI Dialysis Centre is a modern, hi-tech and sophisticated kidney dialysis centre established to provide latest technology-driven treatment facility to renal patients.

The fourth, JMI Syringes and Medical Devices Limited (JSMDL) is a publicly listed company of the NIPRO-JMI Joint Venture.

With the technical collaboration of Star Syringe UK, JSMDL has become the pioneer in manufacturing Auto-disable Syringes in Bangladesh. The company’s remarkable clients include WHO, Unicef, icddr,b, EPI, Family Planning Directorate, BSMMU, Dhaka Medical College Hospital and several leading pharmaceutical companies of the country.

The last joint venture company is the NIPRO-JMI Medical Limited. It has been established with the motto to deliver finest quality healthcare products door-to-door by maintaining good distribution practices and affordable prices.

100% effort

Talking about NIPRO-JMI Joint Venture’s 12-year-long journey, NIPRO JMI Medical Ltd Executive Director Kunio Takamido said, “NIPRO Corporation has made significant amount of investment to build and support local manufacturing of medical devices and pharmaceutical products.

“In addition to manufacturing capability in Bangladesh, NIPRO Corporation will also make further investment to make others capability stronger.”

He also said, “Here in Bangladesh, population is growing, economy is growing. There are so many demands for quality healthcare. It is our responsibility; it is our future dream to help patient, doctors, nurses and all type of people, who work in the healthcare society.

“So we commit our 100% effort to work with these people to make healthcare society in Bangladesh sustainable and best in the world.”

JMI Group Chairman Md Jabed Iqbal Pathan talked about the success behind the joint venture, saying, “When we started the business, there were lot of challenges. But, from the very first day, we focused on high quality, which helped us to attract one after another Japanese FDI and become one of the market leaders in the healthcare sector.”

“Moreover, the NIPRO Corporation has seen JMI Group’s management quality. We have ensured skilled manpower and commitment to produce high standard products. That’s why NIPRO Corporation has continued to do business with us for the last 12 years and we hope it will continue to do so in future,” he added.