In 1989, SHL Medical was founded in Taiwan, manufacturing medical devices from a single factory. Now, the firm is positioned to tap into the growing market for weight loss drugs, particularly with the increasing demand for autoinjectors used for such medications. Roger Samuelsson, the Swedish cofounder of SHL Medical, has become a billionaire with a net worth of $3 billion, primarily due to his ownership stake in the company. SHL Medical is a leading manufacturer of autoinjectors, serving top pharmaceutical companies globally, and controlling 25% of the global market.
SHL Medical’s CEO, Ulrich Fässler, highlighted the importance of single-use autoinjectors in transforming drug administration, a vision that took 30 years to materialize. The company focuses on producing devices for various medical conditions, including multiple sclerosis, asthma, and psoriasis. With a strong presence in the market, SHL Medical has become the fastest-growing company in the industry, driven by its innovative and automated production processes.
Samuelsson’s journey to entrepreneurship began with a visit to Taiwan in 1983, where he explored various business opportunities and eventually established SHL Medical in 1989. Over the years, the company secured partnerships with major pharmaceutical firms and expanded its global footprint by investing in technology and automation. The acquisition of a 31% stake by EQT in 2018 further fueled the company’s growth, leading to a valuation increase from $2.1 billion to $3.4 billion by 2022.
As the market for autoinjectors continues to expand, driven by the success of weight loss drugs like Ozempic and Wegovy, SHL Medical anticipates a significant increase in its revenues and production volume. With a focus on biologics and other complex drugs, the company is well-positioned to capitalize on the growing demand for drug delivery systems. By 2027, Fässler expects weight loss drugs to contribute nearly a third of SHL Medical’s revenues, a substantial increase from the current levels.
Despite facing competition from other players in the industry, SHL Medical remains optimistic about its growth prospects and the potential for collaboration with pharmaceutical companies. The company is ramping up its production capacity to meet the rising demand for autoinjectors, with plans to produce up to 850 million units annually by 2028. Investments in new facilities and technology acquisitions are part of SHL Medical’s strategy to enhance its manufacturing capabilities and meet the evolving needs of the market.
Looking ahead, SHL Medical aims to further innovate its products and explore new opportunities in the healthcare industry. With a focus on enhancing patient care and convenience, the company is working on advanced solutions, such as autoinjectors that transmit data to healthcare providers. As the demand for home-based medical treatments grows, SHL Medical envisions a future where a wide range of medications, including vaccines and cancer therapies, can be administered using innovative delivery devices, revolutionizing the healthcare sector.
