News
HEALTHCARE | Staff Reporter, Singapore
view(s)

Medtecs International revenue skyrockets by 480.4%

Global surge in demand for PPEs attributed to the increase in revenue.

Taiwan-headquartered and SGX-listed Medtecs International Corporation Limited's revenue soared by 480.4% to $532.6m (US$400.3m) for the year-ended 31 December 2020.

The increase in revenue was attributed to the global surge in demand for personal protective equipment (PPEs).

Gross profits were recorded to be $228.3m (US$171.6m) for FY 2020, 1,529.7% change from the previous year’s $13.9m (US$10.5m).

The net profit also saw an increase to $175.2m (US$131.7m) compared to $1.59m (US$1.2m) in 2019.

Established in 1989 in the Philippines, the group has manufacturing facilities in the Philippines, Cambodia and China, and is a key supplier to global PPE companies, exporting to over 30 countries in Europe, United States, South East Asia, North Asia, and Australia. Medtecs also serves as a one-stop vendor to hospitals, supplying PPE, workwear and medical consumables to more than 200 hospitals in Taiwan and the Philippines. It is also a key partner for Taiwan’s and Singapore’s national PPE stockpiles.
 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.