Argentum Medical announces plans to expand the company's presence in Saudi Arabia

GENEVA, Ill. - Dec. 5, 2023 - PRLog -- Argentum Medical, a global medical device leader and pioneer of Silverlon antimicrobial silver-plated dressing technology, announced plans to expand the company's presence in Saudi Arabia at the Global Health Exhibition by signing a Memorandum of Understanding (MoU) with the Ministry of Investment of the Kingdom of Saudi Arabia (MISA). Argentum has been committed to growth in Saudi Arabia for more than 10 years and is furthering its investment in the Kingdom by developing its first manufacturing operation outside of the United States in a manner that is highly aligned with the Vision 2030 initiative. With this investment, Argentum intends to serve as a model for future small and medium-sized companies investing in the Kingdom.

"We are pleased to announce our investment in manufacturing operations in Saudi Arabia. This marks a pivotal moment in our global expansion as we align with the Kingdom's vision for economic growth and diversification," states Raul Brizuela, CEO of Argentum Medical. "We are committed to fostering innovation, creating jobs, and contributing to the industrial landscape of the Kingdom."

Argentum Medical's Silverlon dressings provide a powerful antimicrobial effect of the silver-plated nylon technology, optimized for the treatment of burn and chronic wounds. Silverlon is the only antimicrobial device to achieve U.S. FDA Breakthrough Device Designation. Silverlon can also be used to treat wounds of a radiological and chemical nature and therefore plays an important role in medical supply chain resilience and preparedness.

The accelerated growth of Silverlon in Saudi Arabia will drive long-term cost savings to the Kingdom's Healthcare system via reduced length of hospital stays and accelerated workforce reentry. In addition, Argentum's investment will advance the development of the Saudi medical devices industry; drive the growth of (Made in Saudi) exports to MENA, African, and Asian markets; and contribute to local employment as well as knowledge and technology transfer.

Minister of Investment Khalid Al-Falih said: "Today's announcement illustrates the Kingdom's successful efforts to attract innovative companies of all sizes to invest locally in Saudi Arabia. Argentum's investment will bring meaningful, value-added local manufacturing, knowledge, and technology transfer to the Kingdom, and we are pleased to support the Company's plans to begin manufacturing next year and grow this investment over time to cover new products and processes, as well as to increase exports and create jobs."

Minister of Health Fahad Al-Jalajel said: "Argentum Medical's investment in the Kingdom will deliver a powerful boost to Saudi Arabia's growing medical devices sector. It will also benefit Saudi patients, by increasing the availability of the Company's cutting-edge wound care technology, improving healthcare outcomes, and reducing the length of hospital stays, especially in critical areas such as diabetes treatment."

Argentum's manufacturing operation will create between 25-30 jobs for the Kingdom. As part of its local investment, Argentum will contribute to building Saudi capabilities and expertise in several ways. This will include an internship program for Saudi students in production technology, quality management, and business administration; a training program for local employees on the standard operating procedure used and implemented by Argentum Medical; and clinical wound and burn care courses (in partnership with the Saudi Ministry of Health) for healthcare providers.

About Silverlon

Silverlon® wound dressings have a permanently plated metallic surface, which provides the antimicrobial benefits of silver in the dressing without staining the skin and without increasing bioburden. Silverlon was originally developed for the United States military, where it is still extensively used for the management of burn and blast injuries. Silverlon dressings are used today by surgeons and other healthcare professionals around the world on surgical wounds, negative pressure wound therapy, chronic wounds, burns, skin grafts, and IV and catheter-related wounds. For more information, visit www.silverlon.com.

About Argentum Medical

Argentum Medical pioneered the use of silver-plated nylon. Specializing in the development of innovative products made from silver-plated nylon, the company continues to explore new applications and markets for its Silverlon® technology in keeping with its corporate mission to improve clinical outcomes.