HONG KONG, Nov 23, 2023 - (ACN Newswire) - OrbusNeich Medical Group Holdings Limited ("OrbusNeich" or the "Group"; stock code: 6929), a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, today announced the acquisition of 100% interest in Eucatech AG, a German company principally engaged in the development, manufacture, and sale of minimally invasive cardiovascular and endovascular projects, for EUR2,400,000. Upon completion of the acquisition, Eucatech AG will become a wholly-owned subsidiary of the Group.
Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, "We are pleased to announce the acquisition of Eucatech AG, a company with two decades of experience and a shared mission with OrbusNeich. We believe that this acquisition will enrich our product portfolio. In particular, its CE marked products, including coronary stent with sirolimus coating, peripheral self-expandable stent and paclitaxel-coated PTCA and PTA balloons will enhance our ability to treat lesions in PCI and PTA procedures. In addition, by leveraging our strong sales network, these cutting-edge products are expected to drive growth and further fulfill our commitment to improving the quality of life of patients through innovative technologies by extending their benefits to a wider population."
Since its successful listing last year, the Group has actively pursued opportunities to strengthen its business. The incorporation of Eucatech AG's innovative and high-caliber products will bring about technological synergies while allowing the Group to stay ahead of market trends. Therefore, the Group views this acquisition as a strategic move to reinforce its market presence and distribution network .
The Group has demonstrated its unwavering commitment to accelerating business expansion following its listing. Such initiatives include the extension of an exclusive U.S. distribution agreement with Abbott Laboratories' CSI in September to increase U.S. market penetration, the initiation of a clinical trial for Scoreflex TRIO in the PRC in May for product development, and the establishment of its largest R&D and production base in Hangzhou, the PRC, which is expected to commence construction by the end of 2023, to increase R&D and production capacity.
About Eucatech AG
Headquartered in Weil am Rhein, Eucatech AG is a German medical engineering company specializing in the development, manufacture, and sale of minimally invasive cardiovascular and endovascular products. Since 1997, it has been providing innovative product solutions to improve patients' quality of life, including the CE Mark certified EucaLimus Sirolimus Eluting Coronary Stent System, SUPPORT C Paclitaxel Coated Coronary Balloon Catheter, Resistant Peripheral Self-Expandable Stent System and VITUS Paclitaxel Coated PTA Balloon Catheter.
For more information, please visit Eucatech AG's official website: https://eucatech.de/en/home
About OrbusNeich Medical Group Holdings Limited
OrbusNeich is a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, OrbusNeich sells its products in more than 70 countries and regions worldwide. It also specializes in coronary stent products and is actively expanding into neuro vascular intervention and structural heart disease. As of 30 June 2023, OrbusNeich has more than 210 granted patents and published patent applications worldwide. Its in-house R&D team has more than two decades of product development experience and has developed world-leading proprietary technologies.
For more information, please visit the Group's official website: https://orbusneich.com/
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