MGRC inks partnership for business expansion in MENA region

KUALA LUMPUR (July 13): Malaysian Genomics Resource Centre Bhd (MGRC) has partnered with Saudi Arabia-based United Doctors Hospital (UDH), which is principally involved in obstetrics and gynaecology, to develop genetic screening tests for hereditary conditions and diseases that are prevalent in the Middle East and Northern Africa (MENA).

Under the partnership, which is valid for three years, MGRC and UDH will take the necessary steps to encourage and promote cooperation in the sales and marketing of genetic screening tests and cell therapy products; collaboration in research and development, and other areas of cooperation in the genomics and cell therapies to be mutually decided by both parties.

"This strategic partnership with UDH enables us to expand the geographical reach of our products and services beyond Malaysia to the Middle East and North Africa region. It will also enable us to collaborate on R&D (research and development) with various domain specialists to enhance our suite of genetic screening tests and cell therapies," said MGRC executive director Azri Azerai in a statement on Wednesday (July 13).

MGRC is actively expanding its business-to-consumer channels as part of the group's growth strategy. It recently acquired a 51% stake in kidney dialysis operator Aquahealth Sdn Bhd to offer personalised kidney care that also involves nutrition management, lifestyle changes, and genetic testing.

In addition, it is also collaborating with AirAsia's Asean Super App online shopping platform and Speedoc to provide genetic screening services.

At Wednesday's noon break, shares in MGRC settled up 3.5 sen or 3.68% at 98.5 sen, giving the genomics and biopharmaceutical specialist a market capitalisation of RM122.35 million.