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HITCO Holding History

From a single career in pharmaceuticals in 1965 to a holding of specialist manufacturing, import and distribution companies — the milestones that built HITCO.

1960s

1 milestone

  1. 1965

    1344

    Mr. Jamshid Babaie began his commercial career in 1965 (1344) at Tolid Darou Company under the management of Mr. Khosrowshahi. His years working alongside Mr. Khosroshahi were filled with invaluable experiences and the development of personal and entrepreneurial skills under the mentorship of that distinguished businessman. After four years at Tolid Darou, Mr. Babaie , in pursuit of his personal aspirations, accepted an offer to join Don Baxter Company—now known as Iran Injectables Products Company. At the time, Don Baxter was primarily focused on the production and sale of intravenous solutions. Later, through his involvement with IRAN HOECHST, Mr. Babaie entered the field of specialized pharmaceuticals. Following the establishment of his own pharmaceutical manufacturing plant, he transitioned to working directly with Iran Hoechst and ultimately secured exclusive representation of the company in FARS Province—a step that marked a major milestone in his business career at the time.

    Jamshid Babaie
    Jamshid Babaie Founder of HITCO

1970s

1 milestone

  1. 1970 to 1980

    ۱۳۴۹ تا ۱۳۵۹

    Between 1970 and 1980 (1349 to 1359), significant transformations took place within the operations of HOECHST Germany in Iran, much of which was the result of Mr. Babaei’s tireless efforts and dedication. Unfortunately, in 1980 (1359), with the onset of the Iran-Iraq war, all multinational companies—including Hoechst Germany—decided to withdraw from Iran.

1980s

1 milestone

  1. 1981 to 1998

    1360 تا 1377

    In 1981 (1360), Mr. Babaei resumed his business activities through two companies—Aradco and Shiraz Behdasht—as the exclusive representative of LATON Germany, focusing on the supply of surgical items and various single-use medical products. Eventually, in 1998 (1377), due to changes in import regulations and a growing emphasis on domestic production of certain medical items, he transitioned into manufacturing through Varian Teb Company, the exclusive distributor of surgical sutures. In addition to sutures, other disposable products that could be packaged locally were also added to the company’s product portfolio.

2000s

3 milestones

  1. 2002 to 2005

    1381 تا 1384

    In 2002 (1381), Mr. Babaei ultimately joined the Teb Novin group, while simultaneously continuing his commercial activities until 2005 (1384). During this time, he played a significant role in the development and expansion of Teb Novin’s product portfolio.

  2. 2005 to 2009

    1384 تا 1388

    In 2005 (1384), following the completion of his studies, Mr. Ali Babaei joined the Teb Novin group. Eventually, Mr. Jamshid Babaei entrusted all his responsibilities to him. Mr. Ali Babaei’s entry into the business, leveraging the strategic foundation laid by Mr. Jamshid Babaei in the field of medical disposable sales, led to a significant transformation in the company’s performance—culminating in Mr. Babaei achieving the highest sales figures across the entire organization. His focused approach and commitment to business development in a competitive environment led to an independent invitation to become a shareholder in the company. He subsequently gained hands-on experience across all major departments, including marketing, business development, and finance, as part of a long-term trajectory to prepare him for future company leadership. Mr. Babaei has undertaken numerous business initiatives, many of which have become points of pride for the organization. Among his notable achievements is securing multiple exclusive distribution agreements with globally recognized brands such as 3M, Teleflex, and Hartmann in the field of single-use medical devices.

    Ali Babaie
    Ali Babaie Current owner of HITCO

2010s

4 milestones

2020s

11 milestones

Where the group stands today

The companies, brands and products that came out of this history.

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