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China continues to ramp up efforts to digitize its health care system, as it moves closer toward a 2025 deadline that is part of a nationwide plan. Several of the country’s largest tech conglomerates now have digital health operations that are beginning to show profits and are expected to grow significantly over the next decade.
Acotec Scientific Holdings Ltd. received Chinese marketing approval for its microcatheter Vericor-14 to assist in percutaneous coronary interventions and percutaneous peripheral interventions, taking a step forward in a competitive market that is poised to grow eightfold by the end of the decade.
China’s NMPA gave the nod to Roche Diagnostics (Shanghai) Ltd.’s anti-preferentially expressed antigen in melanoma (PRAME) (EPR 20330) that could help to speed up melanoma diagnosis and improve survival rates.
Meio Medical Inc.’s Titian, a surgical robot for navigation in cardiac electrophysiology, has been included in a Green Pathway for approval of medical devices in China, meaning it could get to market faster. Inclusion in the Green Pathway gives the medical device priority for reviewing and shortens the average registration time. Currently, Meio Medical is running a trial of Titian in multiple hospitals in China.
Beijing Surgerii Technology Co. Ltd. completed a series C3 round to support the development of its robotic system for single-port laparoscopic surgery.
The growing number of people taking up more active sports in China is powering the global market for orthopedic trauma devices through a surge in demand and the emergence of new lines of surgical products, particularly ones that can improve patient outcomes and experience.
Scivita Medical Technology Co. Ltd. formed a long-term partnership with Boston Scientific Corp. to commercialize Scivita Medical's single-use percutaneous choledochoscope in China. This collaboration will increase the market penetration rate of the product.
Beijing Vas Medical Co. Ltd. raised ¥100 million (US$15M) in an angel financing round as well as obtaining marketing approval from China’s NMPA for its vascular interventional surgery robot. The company plans to use the funds to develop technology, update products, expand its team and make promotions.
Detection Technology plc has agreed to acquire X-ray flat panel detector provider Shanghai Haobo Imaging Technology Co. Ltd. to expand in the thin-film transistor (TFT) flat panel detector market. Shanghai-based Haobo Imaging was valued at around €14 million (US$15 million). Finland-based Detection Technology will acquire a 90% stake in the Chinese company while Haobo Imaging’s founder and management will maintain 10% of the shares.
Yongrenxin Medical Instrument Co. Ltd. raised nearly $100 million in a series A funding round to build a health platform to treat heart failures. Sinovac Biotech Ltd. led the round.
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