Swedish Firm Invests in Iran Accessibility Products

EghtesadOnline: A Swedish firm, MentMed AB, has signed a memorandum of understanding with Iranian medical firm Kian Tajhiz Mehr Afarin to develop accessibility products for the elderly and disabled in Iran.

News ID: ۷۴۱۸۱۹

30 May 2017

The deal is potentially worth over $1 million, with further investment likely within the next five years, the Financial Tribune learned. KTMA, which produces occupational therapy devices for the domestic market, Persian Gulf countries and the Commonwealth of Independent States region, has expanded in recent years to now offer bedroom and bathroom equipment as part of their drive to deal with the ever-increasing elderly demographic. Anna Russberg, director of MentMed AB, said she chose to work with KTMA to help expand its distribution internationally and serve the local community. "The firm is trying to help people by providing high-quality products to enhance people's life and make hospitals safe for patients with reduced mobility," Financial Tribune quoted her as saying. There are 6.4 million elderly in Iran and their number is expected to rise steeply in the next two decades, as life expectancy improves. Currently, healthcare spending on the elderly is nine times the national average spent on medical costs, Iranian Insurance Organization said.