Genomica SAU. (1/18/18). "Press Release: Genomica Opens Its First Subsidiary in China". Madrid.

	Organisation	Genomica S.A.U.
	Group	PharmaMar (Group)
	Organisation 2	Genomica (Wuhan, China)
	Group	PharmaMar (Group)
	Product	in vitro diagnostics (IVD)
	Product 2	venture capital
	Person	Cospedal, Rosario (Zeltia 201211 CEO of Genomica S.A.U.)

• The opening of the legal entity in the country represents an unprecedented milestone as it is the first Spanish In Vitro diagnostic company with headquarters in China.

• China is experiencing a period of economic prosperity thanks to the opening of investment of international companies in the country.

GENOMICA opens its first subsidiary in Wuhan, China. The office, established in the East Lake High Tech Zone, will serve as an operations center to increase the presence of the company (PharmaMar Group) not only in China, but also in other Asian-Pacific countries. Its products are currently distributed in several territories of this region.

GENOMICA, which already markets its products to distributors in this region, will benefit from its new position and will be able to maintain a direct commercial relationship with its customers.

The company has formed a new organizational structure in which it has incorporated new professionals within China to effectively face the next challenges at the forefront of the newly opened subsidiary.

As Rosario Cospedal, Managing Director of GENOMICA, said, "the opening of the new subsidiary in China represents a key advance in the company's strategic plan. This is crucial for GENOMICA, not only because the Company is now present in one of the most powerful markets in the world, it also give us the opportunity to continue with the company’s expansion through Asia Pacific.”

China, currently with its rising economic growth, presents one of the largest markets for medical equipment in the world. In the last year, the demand for medical devices has been greater than the supply, mainly due to the increase in the average age of the Chinese population.

GENOMICA appears at a very propitious time to introduce its diagnostic solutions and consolidate its global expansion plan.

With the opening of this filial, GENOMICA is now physically present in Scandinavia, Brazil and China from where it operates in the world´s main markets.

Record changed: 2023-06-05