Green Cross MS specialized in diagnostic reagents and medical devices signed a contract with US-based TECO Diagnostics to supply a US$12.3 million worth blood glucose monitoring system (BGMS). The contract will last until December 31 this year.
According to the contract, Green Cross MS will supply blood glucose meters to Algeria in North Africa via TECO Diagnostics.
TECO Diagnostics headquartered in the United States has a business right to blood glucose meters granted by the Algerian government.
The volume supplied by Green Cross MS under this contract is equivalent to 25% of the whole blood glucose meter market in Algeria.
On the other hand, Green Cross MS forecasts that the export business, which was temporarily sluggish last year, will recover clearly through new market development.