Vemedia Pharma sets up a Joint Venture in Hong Kong
Vemedia Pharma of Kortrijk, Belgium continues its geographic growth, for the first time in Asia. The company has signed a joint venture contract with BMI and Larry Lam of Shine Resources Ltd. Larry Lam holds 49% of the shares, Vemedia and BMI, a Belgian government backed investment fund, together hold 51% of the shares. The existing OTC business of Shine Resources will be used as a platform to introduce Vemedia's products in Hong Kong and other Asian markets. It is planned to open an office in Shanghai by early 2014.
Bart Horsten has been involved as a consultant to Vemedia in the final negotiations with the Hong Kong partner. Bart will also manage the project from Hong Kong in the first few years.
The Vemedia group, with main presence in the Netherlands, Belgium, Spain, Portugal and Italy, is a leading and innovative player in the OTC (prescription-free medicines) self-care and in-pharmacy compounding. The group is active in various European countries and also exports its products beyond Europe. For additional information about the Vemedia group, see www.vemediapharma.com.