The P4Q Health Subsidiary Projects 1 Million in Revenues in 2023

P4Q becomes strong in health. The Basque manufacturer of advanced electronics has entered the health sector with the launch of its subsidiary Qassay, which has developed a device that detects diseases with which it expects to earn €1 million in 2023 and €2 million in 2024, according to Javier Lezama, director of business development of the group.

Qasay’s product reads medical tests and quantifies the prevalence of diseases in organisms, including diseases such as cancer, diabetes, sexually transmitted diseases, or cardiovascular pathologies.

Through the digitalization of the reading of diseases, Qassay has the data that it sends to the relevant health authorities and other companies in the sector, saving costs for the system and increasing access to diagnosis for patients, who do not have to access healthcare centers. to know if they suffer from any ailment.

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Qassay has reached an agreement with the Norwegian public system to manage 15,000 devices

Qassay has begun to be implemented in Norway, through an agreement with various public hospitals in the Nordic country, which have ordered 15,000 devices for C-reactive protein tests.

This year, the group plans to start marketing in Europe and sell 20,000 units of its devices, which will increase to 50,000 units in 2024. After landing in Norway, P4Q will seek to grow in Spain and will have its sights set on the United States, its largest potential market, but the group is also in talks with clients in France or the United Arab Emirates.

“The US healthcare system is much more affordable for us, as we can increase savings and reduce system costs in a massive way; In Europe, on the other hand, it is different”, highlights Lezama, who points out that the long-term objective is to start producing Qassay devices in the United States and China, where the group’s parent company already has production plants.

The group P4Q aspires to produce in the United States and China, where its parent company already has production plants

The company will now seek more agreements with companies in the sector. “Qassay is capable of reading any type of rapid test, from the flu to vitamins to cardiovascular problems, so its market is very broad,” the executive pointed out.

P4Q, Qassay’s parent company, is dedicated to the manufacture of electronic components for the energy, railway, and automotive sectors. The group has 280 employees and three production plants: one in the Basque Country, another in China, and another in the United States. The company has set itself the goal of reaching €90 million in 2023, double that of the previous year.

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(Featured image by AlexvonGutthenbach-Lindau via Pixabay)

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