#Canada #Vancouver #diagnostics #Gene Bio Medical #BIDIPHAR

A New Era in Global Healthcare

In a groundbreaking move set to transform the healthcare landscape, Gene Bio Medical (GBM), a premier Canadian biotechnology firm, has joined forces with Bình Định Pharmaceutical - Medical Equipment Joint Stock Company (BIDIPHAR) in a strategic joint venture. This collaboration aims to establish a high-tech production facility in Bình Định, Vietnam, dedicated to the manufacturing of advanced diagnostic test kits. The synergy between GBM’s innovative Canadian technology and BIDIPHAR’s local expertise is expected to enhance healthcare accessibility across Vietnam, Southeast Asia, the Middle East, and North America.

The announcement of this significant partnership was made public during a high-profile meeting, attended by representatives from the Bình Định People's Committee alongside key stakeholders from the Consulate General of Canada in Ho Chi Minh City. The meeting spotlighted GBM’s commitment to advancing healthcare solutions through world-class diagnostics, especially given the company’s acclaimed contributions during the COVID-19 pandemic, where it delivered over 48 million rapid test kits.

Investment and Commitment to Expansion

GBM's vision for expanding into international markets stems from their impressive portfolio in molecular diagnostics and AI-driven healthcare technologies. As a company striving for excellence, GBM has successfully built a distribution network across 4,900 pharmacies and hospitals in Canada. The technological prowess embedded within GBM's RNA and DNA biomarker detection methods provides exceptional sensitivity and precision, rivaling that of traditional PCR tests.

Furthermore, a key milestone in this journey was GBM's participation in a Canadian trade mission, which saw the engagement with Vietnamese officials and business leaders, paving the way for the preliminary agreement with BIDIPHAR. This partnership is crucial as it aligns with Vietnam's ambitions to establish itself as a biotechnology hub in Asia.

Strategic Objectives of the Joint Venture

The BDIPHAR-GBM alliance is projected to be a $10 to $20 million investment geared towards establishing a state-of-the-art manufacturing facility. The primary objectives of this joint venture include:

• - Setting up high-quality production processes in Bình Định.
• - Expanding market reach to Southeast Asia, the Middle East, and North America.
• - Developing scalable diagnostic solutions that enhance pandemic preparedness.
• - Pursuing listings on both NASDAQ and the Vietnam Stock Exchange within five years, ensuring sustainable growth and broad investor engagement.

Favorable Investment Climate in Bình Định

Bình Định Province has positioned itself as a prime destination for foreign investment with a solid infrastructure and proactive government support, aimed at attracting biotechnological advancements. Among the incentives provided by the provincial government are substantial tax breaks for corporate income, import tax exemptions for essential materials, and other incentives tailored to industry-specific needs.

These favorable conditions set a robust foundation for the BIDIPHAR-GBM joint venture, allowing for accelerated growth and innovation in biotechnology, ultimately benefiting the healthcare sector in Vietnam and neighboring regions.

Perspectives from Key Leaders

Jessica Hu, the CEO and Founder of Gene Bio Medical, emphasized the strategic importance of this venture, stating: "Vietnam’s rapidly growing healthcare market is the perfect environment for our innovative solutions. Our partnership with BIDIPHAR is designed to utilize Canadian technology, ensuring accessible and affordable diagnostic tools are widely available. Through this joint venture, we aim to bolster global health security."

Echoing this sentiment, Lâm Hải Giang, Vice Chairman of the Bình Định People's Committee, expressed his welcoming stance on the investment, highlighting, "The collaboration represents a significant step for our province, aligning perfectly with our economic growth initiatives. We are committed to providing unparalleled support for international investors like GBM."

Conclusion

The strategic joint venture between Gene Bio Medical and BIDIPHAR not only symbolizes a major step towards advanced healthcare solutions but also reinforces the collaborative spirit necessary for overcoming global health challenges. As both companies embark on this journey, the anticipated outcomes will not only improve diagnostics locally in Vietnam but also resonate across international borders. The healthcare community eagerly watches as this partnership unfolds, promising a new era in diagnostics and health security amidst a continually evolving global landscape.