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New Delhi Feb. 9 Healthcare company Medreich Ltd has signed an agreement with the South Africa based Adcock Ingram Holdings to set up a joint venture in Bangalore to cater to customers in the South African market.

Commenting on the venture, Mr Rajeev Mehta, CEO of Medreich said, "This is a culmination of a relationship between Medreich and Adcock working in close cooperation to cater to the markets in South Africa." "Medreich, which has a strategic presence in Europe, UK, South East Asia, Australia, and New Zealand, will continue its independent thrust to consolidate its growth in these markets", he added.

Medreich and Adcock Ingram as equity partners will together invest to the tune of $16 million (Rs 71 crore) in the joint venture.

More Stories on : Alliances & Joint Ventures | Medical & Surgical Equipments

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