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NewBridge for Aramex as profits grow

DUBAI: August 23, 2016. Aramex has formed a partnership with NewBridge Pharmaceuticals to provide a range of logistics services throughout the Middle East, Africa, Canada and the UK.

Also based in Dubai, NewBridge offers in-licensing and commercializing FDA and EMA/European-approved innovative therapeutics and diagnostics within the emerging markets of the Middle East and Africa region.

Aramex DubaiAramex now manages the logistics of patient samples' testing between hospitals and clinics, temperature-controlled storage and transportation, Customs clearance, secondary packaging, labeling, vaulting and guarded transport services from distribution hubs in the UK and Canada to healthcare facilities within the Middle East and Africa.

"This collaboration is a testimony to our healthcare solutions which not only enable our healthcare customers to grow globally, but also provide access to quality healthcare service to citizens across our region," said Aramex CEO Hussein Hachem.

"Not only are we proud to be a part of improving peoples' health in the region, but this partnership with NewBridge also attests to the quality and reliability of the logistics services that we provide," he added.

NewBridge CEO Joe Henein said the "ideal" partnership with Aramex would give his company "significant opportunities" to reach more businesses and patients across the Middle East and Africa.

Both companies said their collaboration fills a gap in the market by ensuring medicines, human specimens and other pharmaceuticasl are being securely, safely and efficiently transported throughout the region in line with local regulations.

Aramex reported HI 2016 revenue of AED2.13 billion, up 15 percent over the same period last year, and net profits of AED 225 million, a rise of 24 percent from 2015.

Hachem commented: "Though we finished strongly, we experienced slowing growth at the end of the quarter. We are closely watching this trend so we can quickly adjust to further volatility and remain cautiously optimistic about continuing our growth momentum into the second half of 2016."

He cited Europe, Asia and Australia as the biggest contributors to growth during the period as Aramex's express business in the U.S., Europe and Asia continued to benefit from the demand in e-Commerce services. However, he added, growth in general freight business in H1 remained "relatively stagnant" due to the drop in global oil prices and currency fluctuations.

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