# OrbusNeich to build largest R&D and production base in Hangzhou, China

OrbusNeich Medical (06929.HK) announced that its wholly-owned subsidiary, OrbusNeich Medical (Zhejiang) Co., Ltd., signed an agreement with Hangzhou Fuchunwan New City Management Committee to invest in a vascular interventional medical device R&D and production base. The project has a fixed asset investment of approximately RMB 300 million, with an annual production capacity of about 2.4 million units after completion.

- Type: New facility
- Announced: 2023-03-28
- Where: Hangzhou Fuchunwan New City, Zhejiang, China
- Value: $43.5M (300.0M CNY)
- Status: announced
- Capacity: 2.4 million units per year
- Products: PCI and PTA interventional products, structural heart medical devices
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [OrbusNeich Medical](https://endata.com/companies/69366.md)
- [OrbusNeich Medical (Zhejiang) Co., Ltd.](https://endata.com/companies/69367.md)

## Sources

- [zhitongcaijing.com](https://www.zhitongcaijing.com/content/detail/900269.html), 2023-03-28: "集团自去年12月于港交所挂牌上巿以来，一直致力实践企业发展策略，而产能扩充计划是当中重要一环。"
- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/900269.html), 2023-03-28: "The new base will become the group's largest R&D and production facility and a major foothold in the Yangtze River Delta."
- [orbusneich.com](https://orbusneich.com/orbusneich-plans-to-set-up-its-largest-rd-and-production-base-in-fuchun-bay-new-town-hangzhou-the-prc/), 2023-03-28: "Upon completion of construction and commencement of production, the Project is expected to have an annual production capacity of approximately 2.4 million units of products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.