Pharmacy dispensing automation corporations JVM has built a new production base in China.
JVM said on the 15th that it built a new plant in Suzhou Industrial Park to produce automated pharmaceutical dispensing equipment and held a completion ceremony on the 15th of last month.
This is part of the global production base expansion strategy proposed by Hanmi Group last year. The company made strategic investments to strengthen supply chain competitiveness and production efficiency.
At this production base, the company produces its automated drug sorting and packaging system, APS equipment (300NS, 360NS, 420NS, 480NS). APS is a core device that supports dispensing automation for hospitals and clinics and pharmacies, and demand has been steadily increasing along with the expansion of the global medical automation market.
China's Suzhou Industrial Park, a China-Singapore joint development zone, is one of China's leading high-tech industrial complexes where foreign-invested corporations are concentrated. The company also said there is a geographical advantage in being able to leverage both an excellent manufacturing environment and a medical-specialized industrial base.
The company plans to improve access to the Chinese market and expand local product supply and technical support. It aims to gradually expand functions to procure parts and materials, foster the production base into a production hub for Asia, and at the same time raise the efficiency of global supply chain operations.
Chief Executive Kim Sang-uk of JVM said, "The China production base is a key hub to strengthen global supply chain competitiveness and local response capabilities," adding, "We will continue to expand our push into global markets, including Asia such as China as well as North America and Europe, and we will enhance product and technology competitiveness to strengthen our position in the global automated dispensing market."
Meanwhile, JVM is also expanding its business in North American and European markets. The company said it will accelerate expansion into business areas that combine healthcare and software with AI and robotics technologies, based on automated dispensing technology.
JVM is an affiliate of holding company Hanmi Science, and the core operating corporations Hanmi Pharmaceutical and Online Pharm are structured to be in charge of JVM's overseas business and domestic business, respectively.