Mexico Olivia Llamas Lina Gong Carlos Ramirez Daman Mangat EkramAhmad Mohammed Alomran NileshKanani
Main cities identified as potential markets http://www.youtube.com/watch?v=GAia6retVeg
Background of Hearing Problems in Mexico. • Of the total population 13% of men and 11% of women has some problems of auditory type; the main causes are:
Background of Hearing Problems in Mexico. • In Mexico, there is a decrease of 40% among young people in their auditory capacity, mainly because they listen to music to very high volume. • Noise pollution is a big issue in Mexico City. This factor that has contributed to the increase in hearing problems. 15% of the city registers a volume of unacceptable noise for the human hearing.
Potential Customers • Government Health Institutions • Pharmacies • Supermarkets • Private Hearing Clinics and Associations
DISTRIBUTION OF THE POPULATION ACCORDING TO HEALTH INSTITUTIONS
Health Institutions Strategy • IMSS has 1,400 clinics and hospitals around the country. • They are currently working in a health care preventing campaign. • To access this potential customer the use of distributors is the most indicated strategy. We have identify three distributors have been identified. • INSTRUMENTOS Y EQUIPOS FALCON, S. A. DE C. V. $11 • COMERCIALIZADORA DE PROD. INSTITUC., SA DE CV $11 • DISTRIBUIDORA INTER. DE MEDS. Y EQ. MEDICO, SA CV $6
Potential Joint Venture Partner • Founded in 1979 • Distributes and sells medical equipment for Bayer, Instrumental Laboratory (IL) • Presence in the three major cities we want to target
Potential Joint Venture Partner • Founded in 1949 • Presence in 120 countries Including Mexico • Made $16 billion In revenue in 2012
MEXICAN REGULATORY SYSTEM -The Secretariat of Health in Mexico regulates health products including medical devices. -COFEPRIS issues Sanitary Registrations and Sanitary Authorizations for importation of medical devices and supplies. -The Mexican General Health law covers all health products including medical devices.
MEXICAN REGULATORY SYSTEM • Article 83 of the Health Products Regulation, classifies medical devices according to a three-tier risk-based classification system similar to that of the U.S. FDA and the European Union Medical Device Directives. Class level 1: Very well-known and not introduced into human body Class level 2: May vary in raw materials and need to be introduced into human body less than 30 days . Class level 3: New and recently introduced.
REGESTERING A MEDICAL DEVICE • All medical devices must be registered through the Sanitary Registration process with the Mexican Secretariat of Health. • The following documents are required: • The scientific and technical information describing the characteristics of the device and demonstration of its safety and efficiency. • A copy of the label, in Spanish, with information as required by Official Mexican Norms. • Instructions for the device’s use or operation manual, in Spanish . • Description of manufacturing process . • For medical equipment, a description of the product’s structure, materials and parts.
LABELING The Mexican Official Standard on labeling of medical devices, NOM-137-SSA1 2008 specifies the information that must be contained on labels of domestic and foreign manufactured medical devices offered to Mexican consumers.
Most important drug stores • Farmacias Similares 4500 branches • Farmacias San Pablo 39 branches
Most important drug stores • Farmacias Similares 4500 branches • Farmacias San Pablo 39 branches • Farmacias Guadalajara 210 • Farmacias Benavides 250
Government Support From Export Development Canada, which is a Canada’s export credit agency. Export Guarantee Program can shares the financial risk with your bank so you can get the financing you need to break into new markets provide your financial institution with guarantees on financing for a variety of activities, including:
work in progress and inventory related to export contracts; • federal and provincialResearch and Development Tax Credits (R&D) related to both your pre- and post-filing period. • investments outside of Canada and general working capital support for your foreign subsidiaries; • foreign-domiciled inventory of finished goods for which you have legal title; and • increasing your operating line of credit by margining of foreign accounts receivables.
Government Support From Canada Ontario Export, they have a Export Market Access Program. • company has been in business for more than two years • records annual sales of $500,000 or more for a grant covering up to 50% of eligible costs incurred to develop export sales
Potential Partners • Founded in 1911 • One of the market leaders • 4 Countries • USA, MEXICO, BRAZIL, AND CHINA
Conclusion • Attractive potential market. • Suitable customers for the products. • Springboard to Latin American market.