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Germany's FlexRAY Medical ApS enters European pre-owned market

by Lauren Dubinsky, Senior Reporter | May 13, 2015
Business Affairs European News MRI X-Ray
Courtesy of FlexRAY Medical ApS
There's a new player in the European refurb market. Germany's FlexRAY Medical ApS will specialize in pre-owned CT, MRI and cath lab systems. The company's CEO, Mads Vittrup, spoke to DOTmed News about how they arrived in the industry and what we can expect from them.

He said FlexRAY Medical ApS will source and sell all of the major CT, MRI, and cath lab equipment manufacturers from GE Healthcare, Siemens Healthcare, and Philips Healthcare to Toshiba America Medical Systems.

They are the most familiar with those technologies and have access to the best market network for those companies. All of the equipment will be sourced from European hospitals and stored in their own storage facility.
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“From a technical perspective, we have the most knowledge — we try to do regular buying and selling like everyone else but we are also setting up a network of partners,” said Vittrup.

Vittrup and the director of sales, Dr. Hassan El-Azzazi, are working on setting up a global network of partner companies to cover basic troubleshooting, installation and upgrades. Four companies will be officially partnering with them soon, to cover servicing in the Middle East and Africa.

Vittrup said that the market in Europe is currently in a “peculiar situation" owing to certain elements encouraging exchange and other things restricting it. This creates new opportunities — and a growing demand — for third-party solutions, said Vittrup, adding that there is relatively little competition compared to the U.S. market. Meanwhile, legislative issues are prohibiting the importation of equipment into Europe, so prices are increasing and the little competition that there is, is focused.

Vittrup has been grounded in the medical dealing business for about a decade. When he started, he was supposed to be concentrating on completing his Masters degree in development economics at Aalborg University in Denmark, but he became too busy supplying hundreds of CT and MRI scanners to countries across the globe to finish his thesis.

El-Azzazi has over 20 years of experience in the pre-owned equipment industry and had held many medical positions in Germany and Egypt. That experience ingrained him with a unique German/Egyptian perspective and a clinical appreciation for the industry.

FlexRAY Medical ApS is planning on attending many upcoming exhibitions including MEDICA, the Radiological Society of North America annual meeting, the Arab Health Exhibition & Congress and the European Congress of Radiology conference.

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