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A joint venture of Grand Pharmaceutical (via China Grand Enterprise) subscribed for approximately 1.0431 million preferred shares of Conavi Medical Inc for about $7.5 million. The joint venture also obtained exclusive distribution rights for Conavi's Foresight ICE and Novasight Hybrid products in Greater China for 20 years.
China Grand Pharmaceutical and Healthcare entered into a joint venture agreement with Canada's Conavi Medical Inc, acquiring exclusive regional distribution rights for Conavi's Foresight ICE and Novasight Hybrid systems in Mainland China, Hong Kong, Macau, and Taiwan for 20 years.