Singapore based LABMED continues to play an increasingly crucial role in the supply of medical masks and medical personal protective equipment (PPE) globally.
The ongoing Covid-19 pandemic has fueled an overwhelming global demand for face masks among frontline health workers and in the general population. To date, LABMED has shipped over 65 million masks worldwide.
LABMED is currently supplying these much-needed masks and medical devices to Singapore, the US State of Hawaii, the UK, Italy, Germany, India and South Africa.
Besides medical masks, LABMED has also shipped 38 million VTM (Virus Transport Medium) kits worldwide. These VTMs are a crucial part of the battle against Covid-19, as they are coupled with the nasal swab kits, and they hold the completed swabs that will be sent to laboratories for testing.
“The demand for VTM nasal swabs kits and saliva collection kit is expected to rise with the current situation with most countries going through community testing, while the global face mask market is expected to register phenomenal growth by the end of 2020,” says LABMED’s Regional Managing Director, Wilson.
As LABMED’s manufacturing plant in China keeps pace with the demand for masks, medical PPEs and VTM kits, this has led to a very healthy impact on the company’s performance. LABMED’s Managing Director, Jason, elaborates, “Within a span of six months, from 1 Feb 2020 to 1 Aug 2020, the company’s revenue increased exponentially to hit a turnover revenue of S$220 million.”
The prominence that LABMED plays in the fight against the Covid-19 pandemic has also guided how it gives back to the communities that are affected by this international crisis.
“As governments, NGOs and healthcare agencies respond to this pandemic, we thought about how to give back to our community. Fortunately, we are in a good position to offer assistance, and we actively donate and contribute to the less fortunate so they are also taken care of during tough times like these when their financials are impacted,” shares Regional Managing Director, Wilson.