Healthcare group Sano Medical has cut jobs and shut down its doors as its global medical hygiene business faces steeply declining sales, amid a global recession.

In a statement on its website, Sano said it was moving to reduce costs, close its UK operations and focus on other areas.

“The global medical market is expected to decline by more than 40% this year, as globalisation, ageing populations and economic downturns are affecting the quality of care,” the group said.

Sano said the group had decided to shut down some of its operations in the UK because the company’s products and services had become so unprofitable, even in the best of times.

It said the company had been in business for more than 20 years and had more than 250,000 staff worldwide.

A spokesman for Sano declined to comment further on the closures.

The group said it had about 2,000 patients on its books, with many more on the way.

Last year Sano closed about 70 per cent of its UK UK operations.

But the group was facing a financial shortfall as sales were falling.

According to the group, it had a net loss of £3.4m in 2015.

This year, it is projected to have a net profit of £2.9m, or about £8,000 per employee.

However, this figure assumes the group would not have to make a profit on its sales in 2016 and 2017, according to the spokesman.

There were signs last year that the group might have to lay off staff.

On March 26, the group announced that it was cutting the number of doctors it had and moving some of them to other parts of the world.

Earlier this year the group began to consider closing its UK office, saying it needed to cut staff and save money.

Its sales fell by more then 40 per cent last year.

Healthcare companies have been struggling to stay afloat amid a worldwide recession.

Sano, which was founded in the 1990s and is based in Britain, employs around 400 people, including its senior executive and a team of 30 sales staff.

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