EDAP to distribute China Medical's HIFU devices in the EU and Russia
3 May 2007 Beijing, China. China Medical Technologies, Inc. (Nasdaq:
CMED), and EDAP TMS S.A. (Nasdaq: EDAP), have announced an exclusive
agreement in which EDAP will distribute China Medical’s high intensity
focused ultrasound (HIFU) tumour therapy systems in the European Union (EU)
and Russia. The distribution agreement provides EDAP exclusive
distribution rights for an initial period of four years following receipt of
EU approval and CE marking for China Medical’s FEPBY series of HIFU systems,
with renewal periods following the initial term. China Medical will seek
approval for its HIFU devices from the appropriate regulatory bodies with
close support from EDAP. “We expect the agreement between China Medical
and EDAP to not only accelerate the development and understanding of HIFU
therapy for the treatment of cancer, but also help facilitate the European
regulatory approval process for our HIFU systems,” said Xiaodong Wu,
Chairman and CEO of China Medical.
“China Medical and EDAP share a commitment of developing innovative and
advanced medical devices and we both seek to broaden our global leadership
and market reach in key regions. EDAP already has the strongest HIFU sales
network in Europe and we think that pairing our two HIFU companies from the
East and the West will help advance our marketing efforts and potentially
provide opportunities for future collaboration.” “This is a historic and
strategic alliance for HIFU,” said Marc Oczachowski, CEO of EDAP. “Together,
our companies represent a dominant force in HIFU applications, and we
believe our distribution alliance will accelerate worldwide acceptance of
this important technology. EDAP’s Ablatherm-HIFU system has set a new
standard in prostate cancer care.
"China Medical is the largest provider of extracorporeal HIFU devices in
China for the treatment of solid tumours. Together we will be able to
educate the global medical community about the benefits of HIFU more rapidly
and make it a major therapeutic tool for the treatment of a broad range of
solid tumour diseases.” To top
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