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news.Teijin Pharma, the core company of the Teijin Group’s pharma and home healthcare business, plans to strengthen its presence in the Spanish home healthcare field as part of further expansion in the European market.
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Under the plan, Oximeplus, a Teijin group company and home healthcare equipment provider based in Andalusia, Spain, has been renamed Esteve Teijin Espana (ETE) to better leverage the Teijin and Esteve brands. The company will add approximately 200 people to its workforce and aim for winning bids for home healthcare services in Spain’s 12 major states between now and next year.
ETE expects that its strengthened presence eventually to produce a 20% market share and annual sales of JPY10bn in the Spanish market.
Teijin Pharma entered the European market, the world’s second largest for home healthcare, by establishing Esteve Teijin Healthcare (ETH) as a joint venture with Esteve, a major Spanish pharma company, in February 2009. ETH promptly acquired Esteve’s 51% stake in Oximeplus before turning it into a wholly owned subsidiary later in 2009.
Teijin Pharma is expanding its involvement with home healthcare services in several markets around the world. In addition to commanding about 60% of the market for home oxygen therapy in Japan, the company also is growing its global operations in the markets of South Korea, the US and Europe.