Medis Group ends its 2020 financial year with almost 12% revenue growth

Medis Group ends its 2020 financial year with almost 12% revenue growth

PR Newswire

LJUBLJANA, Slovenia, Feb. 18, 2021

LJUBLJANA, Slovenia, Feb. 18, 2021 /PRNewswire/ -- Pharmaceutical company Medis as a part of Medis Group ended its 2020 financial year with revenues of € 136.1 million, up 11.9 percent from the previous year. Growth was particularly noticeable in foreign markets, where most of the revenue was generated. The highest growths in sales revenue were achieved in Austria, Hungary, Serbia and the Baltic States, while growth of more than 9% was achieved in Slovenia. In addition, value added per employee also went up to € 112.000. Medis has enjoyed average revenue increases of nearly 16 percent annually for the past five years.

Globally, Medis is becoming more widely known for ensuring access and commercialisation of state-of-the-art medicinal products from innovative pharmaceutical and biotech industry partners in the 15 countries where it operates. As a local partner to these innovative companies, Medis ensures the entry of new medicinal products to Central and South-Eastern European markets. These are 'home' markets for Medis with 350 employees, where the company is extremely well-established and has all the competencies that its industrial partners need.

"Across all four strategic business units of Medis – prescription medicinal products, hospital medicinal products and equipment, over-the-counter products and products for use in aesthetic medicine – our planned financial results have been achieved. We are also pleased to be able to report our successful introduction of new prescription medicinal products in the Baltic States, Bulgaria and Slovakia," said Dr. Martina Perharič, Medis CEO. Perharič added that, ''Net profits increased in the Medis Group by as much as 9 percent, to a record € 12.0 million. This is due to significant sales growth, as well as the fact that we kept most investments, particularly investments in marketing and digitisation."

Medis will continue its strategic investments to obtain high, double-digit, year-on-year growth and to reach the set financial goals for 2025, while operating sustainably and for the benefit of all its stakeholders.

''31 years of investment and cooperation with the world's leading manufacturers of innovative medicinal products has positioned Medis to have the capacity, capability and modern technology for excellence in marketing, management, and optimisation of the entire business. We also have a huge amount of knowledge, top experts and teams in 15 countries providing access to state-of-the-art medicinal products – even in countries with markets that are too small and therefore too expensive for big independent pharmaceutical companies to enter," said Tone Strnad, Chaiman and and Founder of Medis.

Efforts to access innovative medicinal products

In 2020, Medis became a new strategic partner to three innovative pharmaceutical companies (from the United States, Portugal and Israel), allowing the company to expand its portfolio of specialist prescription medicinal products to Parkinson's disease, specific retinal diseases and sleep disorders in children with autism spectrum disorders.

Digitisation remains of key importance

Another important segment of the company's further investment is digitisation. "We want to provide customers with professional information at the right time, and new communication channels now allow us to adapt much more to customers. It also facilitates the optimisation of content, which is adapted to suits either shorter messaging, face to face communications, or in-depth video detailing; besides, a specialised content has to be prepared and available "on-demand" for Health Care Professionals," added Perharič.

She concluded her remarks saying that all of the above form: "The foundation of our performance and collaboration culture, which is why we were able to transition smoothly to respond to the COVID-19 pandemic by working from home, and why we can now look forward to success – both individually and collectively – through virtual and live communications nicely combined."

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Medis Group ends its 2020 financial year with almost 12% revenue growth

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