idsMED and Servizi Italia Signed an Agreement for The Establishment of a Joint Venture
idsMED and Servizi Italia agree to develop potential business opportunities in the sterilization and wash-hire services in Asia Pacific.
General
20 June 2018
The Agreement Will Enable Idsmed And Servizi Italia To Develop Potential Business Opportunities In The Sterilization And Wash-Hire Services In Asia Pacific, In Particular In Singapore, Indonesia, Malaysia And Vietnam.

On 19 June 2018, idsMED executed an agreement with the Italian-based publicly listed Servizi Italia for the establishment of a vehicle company based in Singapore called IdsMED Servizi Pte Ltd (“idsMED Servizi”). idsMED Servizi will operate for identifying and developing new business opportunities in the sterilization and wash-hire services in the Asia-Pacific area.

Leveraging on the commercial network of idsMED and on the know-how of Servizi Italia, the partnership will allow idsMED Servizi to start scouting for immediate sterilization and wash-hire opportunities in Singapore, Indonesia, Malaysia and Vietnam. The agreement involves also Cambodia, China, Philippines, Japan, Hong Kong, Myanmar, South Korea, Taiwan and Thailand.

Servizi Italia S.p.A. (SI) is a leading Italian operator in providing laundry and sterilization services to public healthcare system through a high quality of products and services mixes. Founded in 1986 and listed on the Italian Stock Exchange (Borsa Italiana Exchange in Milan) since April 2007, SI has a headquarter in Castellina di Soragna (Parma, Italy). Throughout the years, SI has a history of acquisitions and restructuring following the evolution of market for services to healthcare facilities as well as strengthened its leadership position given its expanding customer base across 5 countries, including Brazil, Morocco, Albania, India and Turkey.

"This joint venture with Servizi Italia marks yet another milestone in the rapid expansion of idsMED in the Asia-Pacific” commented Ben Chang, CEO of idsMED. “We are delighted to have found the perfect partner in Servizi Italia to together grow our respective businesses into new areas. Our complementary strengths will provide the most compelling edge for us to exploit the huge laundry and sterilization business in the Asia-Pacific.”

"We are pleased to have started this partnership today with an important operator like idsMED" commented Enea Righi, CEO of Servizi Italia. "This agreement confirms the international growth of our group and it demonstrates the current and potential importance of the services offered by us. We believe that the development of the business pertaining to the joint venture business will be particularly interesting in the medium to long term, given the high level of quality of the know-how provided by Servizi Italia and in consideration of the low level of outsourcing rate of our services in the target countries of the Asia Pacific region".

idsMED Servizi will be a holding company 70% owned by idsMED and 30% owned by Servizi Italia and it will control dedicated operating vehicles, to be established from time to time based on development opportunities in the target countries. Moreover, according to the signed agreements, Servizi Italia and idsMED will define a joint working group for identifying opportunities and developing projects.

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