ICEMBE TAKES LEAF OUT OF SMITH & NEPHEW BOOK

Sowetan
31 March 2005
By Tshepo Mongoai

Icembe Medical, a black economic empowerment company led by Zulu royal Queen Thandi Zulu, has entered a joint venture with Smith & Nephew, a global medical products maker, to market and distribute the London-listed company’s products in South Africa.

Corez Investment, co-founded by Zulu and Sbu Mhlambi, owns 60 percent of Icembe Medical, Smith & Nephew 30 percent and workers’ trust the remaining 10.

Zulu and Mhlambi, who are directors at Icembe Medical, used their own cash to fund the deal, the value of which is undisclosed.

Smith & Nephew’s marketing and distribution division in South Africa does business of R50 million a year. The firm specialises in products for treating wounds like burns and ulcers, as well as knee, hip and shoulder replacements, and repairing broken bones.

Smith & Nephew managing director Kelvin Johnson said Zulu and Mhlambi’s work experience would ensure Icembe’s sustainability. Zulu is a retired nurse with 20 years of service in the public health-care sector. “I would bring a wealth of expertise to grow the business, especially in accessing more business from the government,” she said.

Mhlambi is a Harvard graduate with a master’s degree in family medicine. He has worked as a general practitioner, a senior lecturer, as well as serving in hospital management.

“Our experience enables us to look into this working environment, articulate the challenges, and offer tried and tested solutions that make hospital stays shorter and treatment more cost-effective,” said Zulu.

Mhlambi, Icembe Medical's chairman, said it would have been very difficult to gain entry to the market without partnering with a company like Smith & Nephew.