Kuala Lumpur, 17th June 2015
YBU Holdings Sdn Bhd the investment arm of Yayasan Bina Upaya Darul Ridzuan , a foundation focused on the eradication of poverty in Perak Darul Ridzuan today has signed an MoU to form a joint venture special purpose vehicle (SPV) company with Biosis Development Sdn. Bhd.
The MoU is the first step towards establishing a JVCo that will develop and operate the first MEDICAL DEVICE REFURBISHMENT & INNOVATION PARK in Southeast Asia. The park is hoped to address the needs and gaps within the medical device industry in terms of cost savings as well as reducing fund outflows.
Currently it is estimated that there are more than 30,000 units of medical devices and equipment within the government and private healthcare providers which have been decommissioned and termed as “Beyond Economic Repair’ (BER). These equipments have served their useful lifespan, which could have been salvaged and re-commissioned or pro-longed their lifespan had the country have its own refurbishment capabilities and support.
In a statement made by Biosis Group Berhad’s Managing Director, En Shahfie Ahmad said “ We already have the supporting capabilities readily available in Malaysia, this is evident with all the Electric & Electronic, Mechanical as well as software engineering and development companies within Malaysia, it’s a matter of harnessing these together in collaborative effort to fill in the gap under one focussed area or hub as being practised in Europe”.
The hub which is first of its kind in South East Asia will have the capability to calibrate, maintain, repair and refurbish used equipment as well as design, develop and provide testing. It will also have within it’s 45 acre land, a conformity assessment body which will undertake calibration, tests and accreditation. The hub will also provide device clinical trials companies with GLP accredited facilities operating within its compound.
The Hub shall feature 5 Clusters as follows:
- Medical Devise Refurbishment , Manufacturing
- Medical Devise Laboratory, GLP & Animal Lab
- Human Capital Training & Medical Technology
- Medical Devices R&D , New Technology & Innovation
- Health & Medical Technology Consulting
In a joint statement; YBU Holdings Sdn Bhd represented by its Chief Executive Officer, Hamzarul Hazmir Hamdan told, they are confident that this complete end-to-end value chain for refurbishment of equipment and development of new equipment will spur further growth not only in terms of income generation for the state and country but most importantly the development of Human Capital. Understanding the need to sustain technology advancement and trends in healthcare industry, the hub would also have an educational content where it will also provide training, certification and advance knowledge education on technology and services.
The JVCo will work together with PEMANDU and MoH to realise the initiative under a proposed EPP 18 program. To date, there has already been very keen interest and commitment from various international organisations in terms of a major healthcare industry player from Europe, a Certified EU Assessment Organisation and an international Institute of Higher Learning.
The development of the park will take approximately two (2) years to complete and both organizations are confident with the identified parallel programs that shall commence prior to the park operation, will ensure that upon its completion, the park will immediately be able to serve the needs of the industry .