"While many companies worldwide have been wrestling with the impact of the COVID-19 pandemic, QPS saw demand for its products rise, with annual sales of AED130 million in 2020 (USD35.4 million). That is well up from the AED43 million (USD11.7 million) the company registered back in 2016.
“Quadri Pharma went into crisis management mode early on and we had enough resilience to mitigate against the damage from COVID,” says Amr Elbakr, QPS’s COO and Founder.
“I am proud to say that we had zero layoffs and zero salary reduction during that period,” he says.
QPS employs 64 people across two offices and two warehouses in Abu Dhabi and Dubai. The UAE is its main market, comprising 70 percent of sales of imported pharmaceuticals and medical products. Qatar accounts for 20 percent of sales with the rest in Oman and Bahrain.
The company's current portfolio includes business entities catering to special populations and patients with unmet medical needs, services such as wound care and in-vitro fertilisation, and surgical instruments and nutraceuticals.
HSBC has been the bank of choice for QPS since the beginning of its operations and has since established a very close relationship and strong track record, becoming a prime partner in supporting its business growth.
In selecting the right long-term banking partner, QPS was looking for a responsible, transparent, dynamic and agile bank, which would understand its needs while supporting its aspirations with innovative digital banking and a global approach.
“Working with HSBC as a partner of choice was a game changer. It helped us grow our business as we go,” says Elbakr.
“HSBC supported our digital transformation and prepared us for unseen challenges, especially during the recent pandemic,” he adds.
Opening up new opportunities
HSBC’s global network and geographical scale enable QPS to make immediate connections anywhere in the world while obtaining invaluable hands-on local knowledge.