By: 4 May 2016
Vygon Group opens subsidiary in Finland

Vygon Group opens subsidiary in Finland

Vygon, the specialist single-use medical devices group, have announced the opening of a subsidiary in Finland. The Vygon Finland Oy head office in Helsinki officially opened its doors on February 1, 2016. Vygon has already been present in Finland for more than 30 years via a network of distributors.

“The new subsidiary will increase sales and offer a wider range of quality medical devices. Inline with Vygon’s ethos, value life; we aim to improve the standard of care in Finland by partnering with clinicians,” said John Yates, vice president for Central, Northern and Eastern Europe. Finland, a country of 5.5 million people, has seen health expenditure increase steadily over recent years, reaching 9 per cent of GDP in 2014. This is on par with the low average expenditure across the OECD. Seventy-five per cent of health expenditure in Finland is public. The Finnish market for medical devices reached €914m ($996m) in 2013 and is expected to grow by an average of 4.6 per cent per year to reach €1.07bn ($1.17bn) by 2018.

“After creating Vygon Sweden in 1999, Vygon Denmark in 2005 and Vygon Norway in 2012, the opening of a Finnish subsidiary as we enter 2016 will further strengthen Vygon’s Nordic presence,” said Stéphane Regnault, chairman of the Vygon managing board. “The Nordic and Scandinavian regions currently make up 9 per cent of the area turnover for Northern, Central and Eastern Europe for Vygon. The sales goal for Finland is 10.4 per cent of the Nordic and Scandinavian region total turnover,” he continued, “This new development will speed up the Group’s international growth as part of the VygView 2022 project. Our overall goal within the Northern, Central and Eastern European area is to return with a consistent overall double digit percentage growth year on year in line with our 2022 objectives.”
“Each time a new subsidiary opens, it furthers Vygon’s commitment to make our medical devices available worldwide and is a real achievement for our team. This new subsidiary and Finland’s geographical position opens up new doors for us in Eastern Europe,” said John Yates, vice president for Central, Northern and Eastern Europe.