AsianScientist (Jan. 13, 2014) – MicroPort Scientific Corporation has entered into an agreement with Sorin Group to market and develop cardiac rhythm management (CRM) devices in China.
The devices consist of implantable pacemakers, defibrillators, cardiac resynchronization devices and other related devices.
The new venture, which will be named MicroPort Sorin CRM (Shanghai) Co. Ltd., will be located in Shanghai and is scheduled to start operations in the first half of 2014.
“We recognize Sorin as an innovative player in the CRM field and we are looking forward to supporting the commercialization of Sorin’s devices and ultimately realizing our goal to develop locally manufactured devices which are specifically designed for China and fit the needs of the growing demand in our country,” said Dr. Zhaohua Chang, CEO of MicroPort Scientific Corporation.
Under the agreement, the two companies will collaborate through the joint venture on the import, sale and service of Sorin’s CRM devices in Greater China and work together to accelerate the development of locally manufactured CRM products for the Chinese market. Significant engineering and development resources from both parties will transition to the joint venture immediately.
“This is an important milestone in our strategy to build a local presence in China. Access to CRM therapies in China is expected to expand rapidly and the market should grow at double-digit rates in the foreseeable future. Expanding our footprint in China in CRM is key to our long-term growth strategy,” said André-Michel Ballester, CEO of Sorin Group.
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Source: Sorin Group.
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