ProPhase Labs Inc. sets the course for expansion into the MENA region with cutting-edge genomic and diagnostics technologies

ProPhase Labs Inc. sets the course for expansion into the MENA region with cutting-edge genomic and diagnostics technologies

Dubai, UAEL-- ProPhase Labs, Inc. (NASDAQ: PRPH) (“ProPhase”), a next generation biotech, genomics and diagnostics company, today unveiled its mission to develop its diverse business units in the MENA region and in particular, the Gulf Cooperation Council (“GCC”) – a robust alliance of six Arab states in the Persian Gulf region, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. ProPhase aims to expand its business and form potential alliances throughout this vast region, focused on further advancing their state-of-the-art healthcare markets. The Company notes a rapidly growing population of over 400 million and an economy projected to grow by an average of 3.5% per year from 2022 to 2025 as major factors driving this expansion. With a per capita GDP surpassing $70,000 USD on a PPP adjusted basis, the GCC holds the world's tenth-largest GDP, positioning it just behind the U.S. ProPhase seeks to meet the demand for leading edge diagnostic and therapeutic services in the area by offering its expanded portfolio to the over 56 million residents [1] of the GCC, and ultimately, the entire MENA region. ProPhase has onboarded ThinkEquity and Al Ramz as advisors to navigate these strategic initiatives. ThinkEquity is a