Panasonic Healthcare Indonesia, a local producer of equipment used in the health care industry, has set a target to increase sales by 70 percent over the next four years on the back of growing exports.
The company, which is a subsidiary of the Japanese business group, eyes $88 million in sales by 2020, up from $51 million last year, it said in a statement on Thursday (19/05).
Panasonic Healthcare also seeks to increase its workforce to 799 from 611 currently during the same period to raise production on blood glucose monitors, medical imaging monitors, dental intraoral cameras, heated incubators, and ultra-low temperature freezers.
Parent company Panasonic Healthcare Holdings has acquired Bayer Diabetes Care, a leading global producer of blood glucose monitoring systems, earlier this year. The acquisition has opened more opportunities for the local unit to tap offshore markets.
“Panasonic Healthcare Indonesia has great potential to increase exports,” the company said in a statement.
Exports currently account for 88 percent of the company’s sales.
Gobel International, which is controlled by former trade minister Rahmat Gobel, has a 5 percent stake in Panasonic Healthcare.
