Medical Devices
Amecath Medical Technologies is a globally active medical devices company with a focus on catheters, mainly produced in Egypt. The company offers high quality, differentiated and selected intellectual property (IP) protected catheters and related products. Five products are currently approved by the U.S. Food and Drug Administration (FDA).
The company is ISO 14001:2015 certified and also holds the necessary quality and security certificates to export to more than 55 international markets across five continents, including Europe and the USA. In 2018 the company underwent a rebranding and will have it’s legal name change completed in 2019 from Ameco Medical Industries to Amecath Medical Technologies, which is the also the name of the internationally successful product brand.
TVM Capital Healthcare acquired a majority stake in Amecath, then Ameco, a Nile Stock Exchange (Nilex) listed medical device manufacturer in Egypt, in late 2014. The Fund acquired a final stake in Ameco via MTO and the final delisting of the Egyptian company from Nilex and conversion of the shareholdings from an Egyptian company into a Cyprus based holding company (in line with all other Fund portfolio companies) was finally completed in April 2017. In total, the company employs 427 (400 in 2017) people. In 2019 the company will focus on increasing its international presence and market share, with a special focus on the U.S and European markets.
Amecath installed a “reduce, reuse, recycle” program in 2017. In particular this reduces the amount of plastic waste. Process control has been implemented to decrease production and other waste. Since the start of the reduce, reuse, recycle pogram in 2017, waste production was decreased significantly by more than 40%, producing hazardous waste of 305 kg and non-hazardous waste of 3,976 kg in total in 2018. Water consumption decreased by 57% to 12,437 m3, against a yearly target of a 2% reduction, wastewater discharge was within the regulated limits. The consumption of electricity slightly increased due to an increase of production capacity.
Amecath has established a three year “Brotherhood agreement” with Abo Twala village, the village where most of their employees are living. As part of this agreement, they run social projects in the village, such as building a public library and a water filtering station. In 2018, Amecath donated 10,000 person hours of pro bono volunteering time to running environmental “clean-up days” and other community activities.