TriReme Announces Signing of a Master Distribution Agreement in China
Chinese Partner, Weigao, is One of Largest Medical Device Players in the
PLEASANTON, Calif. and SINGAPORE, March 26, 2013
PLEASANTON, Calif. and SINGAPORE, March 26, 2013 /PRNewswire/ --TriReme
Medical, Inc. and its affiliates (TriReme) announced today that it has signed
a comprehensive agreement with Weihai Weigao Medical Devices, Ltd for the
distribution of its products in the People's Republic of China. Weigao will
act as TriReme's master distributor by selling TriReme products directly to
hospitals as well as connecting TriReme products into its vast nationwide
distribution network. This agreement complements TriReme's strategy of
focusing on Asia, the fastest growing market in interventional cardiology.
"Due to many factors including increased affordability, aging population and
an increase in the number of state-of-the-art medical facilities, China has
become the world's second largest market in terms of the volume of
interventional coronary vascular procedures," stated Eitan Konstantino Ph.D,
CEO and President of TriReme. "For similar reasons, we expect that the number
of peripheral vascular procedures will rise dramatically in the coming years
to the point where China becomes the world's largest market in terms of total
Ms CHU Swee Yeok, CEO and President, EDBIand Bio*One Capital said: "Weare
confidentthat TriReme products and technologies will lead to better clinical
outcomes for Chinese patients and are thrilled to partner witha distinguished
player likeWeigao to introduce TriReme products into the world's fastest
growinghealthcaremarket. Such a partnership is a great example of how highly
innovative companies like TriReme can leverage on Singapore as a base to
access vital Asia markets for their growth."
"Weigao remains committed to partnering with healthcare providers across China
to provide access to best-in-class technology across a wide range of product
categories," explained Mr SUN Feng Wei, General Manager of Weigao Medical
Devices, Ltd. "We view TriReme as a top brand and this partnership allows us
to bring the highest quality devices to our growing customer base of
physicians performing interventional vascular procedures."
About TriReme Medical, Inc.
Based in Singapore and Pleasanton, California, TriReme Medical, Inc. is a
privately held medical device company dedicated to the development,
manufacturing, and commercialization of next generation percutaneous devices
for the treatment of complex coronary and peripheral arterial disease. The
company is focused on the US and the emerging Asian markets.
Based in Weihai, China and publicly traded on the Hong Kong Stock exchange
(Stock Code: 1066), Weigao manufactures and sells over 100 types of products,
including disposable medical consumables, orthopedic materials and tools,
medical needles, blood purification consumables, and interventional cardiology
devices. It maintains a vast distribution network of 24 regional sales
offices, 30 customer service centers, 100 municipal representatives, and 1200
sales representatives. It sells to over 2700 hospitals, 400 blood stations,
and over 1500 distribution/trading partners across China.
SOURCE TriReme Medical, Inc.
Contact: Gail Prince, (925) 931-1300 ext 208
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