In an exciting development, Medical Disposables & Supplies Limited (MDS) has ventured into the fast-moving consumer goods market by becoming a distributor of True Pet Food in Jamaica. This new non-exclusive distributorship forms a key part of MDS’s strategic expansion plan, encompassing both its home market and overseas initiatives. The company is not only seeking new avenues for growth but also aiming to diversify its income streams, product lines, and market segments.
Key points from the article include:
- Expansion Strategy:
- MDS Jamaica will hold a 30% stake in MDS Cayman, a new entity slated to commence operations by April. The primary focus of MDS Cayman will be as a distributor of pharmaceutical and medical products within the healthcare sector.
- The consumer division of MDS, established in 2017, has steadily grown to incorporate a wide range of products, including confectionery, personal care items, and True Pet Food.
- Portfolio Expansion:
- The consumer division now contributes about 10% to MDS’s overall revenue, a notable increase from 4% in the past three years.
- True Pet Food represents a new addition to the product lineup, with MDS poised to tap into the lucrative pet industry in Jamaica.
- Steady Growth Approach:
- CEO Kurt Boothe emphasized a gradual expansion strategy that involved testing the market and adding products incrementally to manage resources effectively.
- By taking calculated risks and venturing out of their comfort zone, MDS aims to drive growth while ensuring sustainability.
Despite facing financial challenges, including losses and cash deficits, MDS remains optimistic about the potential of the new distribution partnership. The collaboration with CB Group offers a seamless integration of True Pet Food into MDS’s existing infrastructure without the need for significant additional investments.
To further enhance market presence, MDS recently organized a conference with pharmacists under the theme ‘MDS Gone to the Dogs’. This event not only highlighted untapped opportunities in veterinary care but also provided insights into overseas market needs from participants across various regions.
In conclusion, MDS’s foray into the consumer goods market signifies a strategic move towards diversification and growth. By leveraging partnerships and calculated risks, the company is positioning itself for sustained success in both local and international markets.
