Healthcare remains the most important industry in the world since the public well-being depends on it. Investing in healthcare is deemed one of the social responsibilities of large corporations.
The industry has gained such traction that international companies might be hard-pressed to build a diversified portfolio of any kind that includes at least some healthcare stocks.
In this regard, MAPNA Group founded the MAPNA Healthcare Company (MHC) in 2016 in partnership with the Iranian Ministry of Health, not only as a business strategy, but also as critical step for social well-being, as well as an ethical obligation. MHC is co-owned by MAPNA Group (70%) and the Ministry of Health (30%).
The company initially prioritized procurement, supply and operation of imaging equipment (CT scan, MRI, angiography, and radiology devices). Later, it expanded its horizons to meet the urgent needs of the Health Ministry by technology transfer and obtaining the know-how to manufacture the much-needed medical equipment in the domestic market. The ultimate goal of MAPNA Group’s healthcare division is to localize advanced medical technologies and supply medical equipment under the MAPNA brand.
So far, MAPNA Healthcare Company has inked deals with 30 Iranian universities of medical sciences (that, by law, administer public hospitals) to equip 182 affiliated hospitals with medical equipment.
MHC has equipped 34 hospitals with imaging equipment, pledging to supply the remaining centers with their demands within a five-year plan, based on the priorities announced by the Health Ministry.
While MHC is the main MAPNA Group division active in the medical sector, other MAPNA subsidiaries provide full support to the healthcare system within their respective fields, including provision of oxygen delivery devices, and services such as the electronics and telecommunications of medical devices.
The coronavirus pandemic, which broke out in Iran in early 2020, highlighted the importance of providing critical equipment such as oxygen concentrators. As a result, soon after the outbreak, MAPNA Group announced readiness to produce these devices; shortly, the Group unveiled the first indigenized oxygen concentrator, which is now in use at Tehran’s Amir A’lam Hospital. The Group is currently producing 20 oxygen concentrators with a capacity of 600 liters.
In line with its social responsibilities, MAPNA Group has made significant contributions to the fight against the coronavirus. As of March 2021, more than 440,000 people had used MAPNA medical equipment for CT scans and COVID-19 diagnosis.
The manufacture of 10-Liter oxygen concentrators and supply of spare parts for 40 mask-production machines with a daily capacity of 50,000-100,000 items are among other activities of MAPNA in the health sector. MAPNA Group has stood by coronavirus patients and their families since the respiratory disease broke out and has prioritized this mission by providing necessary facilities to combat the pandemic.
The geographical and population disparities that hamper the timely access to medical equipment have also become a major challenge for physicians and patients. To handle the issue, MAPNA has introduced Iran’s first teleradiology network, which is a high-speed, powerful network that can render data and tightly couple information from the real and the virtual world. The MAPNA teleradiology network helps transmit radiological patient images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of sharing studies with other radiologists and physicians. This enables physicians assess the COVID-19 cases in a much shorter period and helps them accomplish the great mission they are facing. MAPNA Healthcare Company controls the network’s performance via real-time live monitoring.
Other Measures in Healthcare Sector
MAPNA works in a number of ways to support and expand the role that social enterprises play in delivering quality health and social care services. Prosthesis production is another scheme pursued by the Group.
The initial studies on producing prothesis items are currently underway and the project will be carried out in the near future by MAPNA Turbine Blade Engineering and Manufacturing Company (PARTO) and MAPNA Turbine Engineering and Manufacturing Company (TUGA).
The manufacture of prostheses will pave the way for the localization of similar advanced medical equipment.
Given that social responsibility is a set of duties and obligations in order to maintain and contribute to the community in which an organization operates and considering its importance as a new and effective approach to business, MAPNA has committed to its charter of social responsibility in the scope of its investment activities.
The Group is considering major plans such as building hospitals, localizing medical equipment and developing health tourism. Also, the corporate is planning to begin its healthcare activities at the international level in the near future, including the construction of hospital and healthcare facilities in neighboring countries.
The coronavirus pandemic proved that we cannot predict the future, but we can prepare for it. Such an outlook helps to bring lifesaving innovations to market fast, at a lower cost, and with the highest level of patient safety.