Vietnam is the key nutrition market for Abbott
Abbott, a global healthcare company, has once again been crowned as the most admired corporate dealmaker in the healthcare sector.
Last week, the company was recognized by The Deal, a business unit of TheStreet, as the best all-around dealmaker in healthcare for the sixth consecutive year.
The Deal's readers rated Abbott based on four criteria: overall strategy, choice of targets, execution and demonstrated skill of the deal team. The survey assessed corporate deal making effectiveness over the past five years of transaction history to give a more accurate picture of deal performance over time.
Abbott has long recognized the global shifts in healthcare and has completed a number of strategic actions that have enhanced its diversity, product offerings and geographic reach to align with long-term health trends.
"Healthcare needs have never been greater or more diverse," said Abbott chairman and chief executive officer Miles D. White. "We've anticipated these needs and through targeted licensing, mergers and acquisitions (M&A) and internal research and development (R&D), we've reshaped the company so it is well positioned for continued success."
Notably in Vietnam, one of Abbott's priority emerging markets, Abbott acquired its long-standing distribution partner of nutrition products, 3A Nutrition last year, in a move to amplify their presence in the market and demonstrate the company's long-term commitment to Vietnam's development.
After one year, this acquisition has proven to be the right move to make and is adding value not only for Abbott and 3A through continuous growth, but also helping the company to better meet the expectations and needs of local consumers and retailers.
The acquisition had leveraged Abbott's strength, leading science, and cutting edge innovation, while enabled the company to enhance the local talent and market expertise brought by 3A Nutrition to better serve Vietnamese consumers.
In 2012, Abbott invested 4.3 billion USD in research and development to bring forward new solutions to healthcare challenges, introduced several new products in Vietnam, offering the latest science and technologies, tailored to the needs of Vietnamese consumers.
In June 2013, Vietnam was the first market where Abbott introduced BoneSure, a bone health nutritional supplement which was designed specifically for women in Asia.
After that, in August, the company introduced Ensure Acti M2 which helps in maintaining cognitive health and mental sharpness for aging people, which is particularly important as the average life expectancy in Vietnam has increased significantly.
Also, last year saw over 619,000 patients and 26,400 local healthcare professionals benefited from Abbott's hospital-based education programs on topics ranged from prenatal nutrition to specialized nutrition for diabetes and cancer patients.
Abbott has also invested in educational events, trainings and expert speakers throughout 2012 to provide information about the latest in healthcare solutions and clinical nutrition.
One year on after the acquisition, Abbott has sustained the leader position in healthcare industry and been highly-rated on customer and healthcare professional satisfaction surveys. Those achievements have demonstrated that this partnership will continue to grow, build capacity and technical expertise throughout Vietnam's health care community and create long-term value for stakeholders.
|In the past five years, Abbott has completed a number of acquisitions and divestitures to bolster its best-in-class product portfolio and expand its global reach:
"¢ Separated its proprietary research-based pharmaceuticals business, creating two leading healthcare companies.
"¢ Acquired Advanced Medical Optics and OptiMedica, adding leading eye care technology to Abbott's diverse medical products portfolio and pipeline. Purchased Vistatek, an ophthalmic surgical distributor, expanding its vision care presence in Brazil and Latin America.
"¢ Gained access to the emerging field of non-surgical heart valve repair through the acquisition of Evalve and expanded its global peripheral artery disease technology portfolio with the purchase of IDEV Technologies.
"¢ Diversified its established pharmaceutical portfolio and gained access to key emerging markets through the acquisition of Solvay Pharmaceuticals and Piramal Healthcare Solutions.
"¢ Acquired 3A Nutrition, a distributor in Vietnam, a key medical and pediatric nutrition market for Abbott.