OrbusNeich Medical

OrbusNeich held a groundbreaking ceremony for its new R&D and production base in Fuyang, Hangzhou, China, with fixed asset investment of approximately RMB 300-400 million. The facility will have a gross floor area of 60,000 m² and focus on PCI and PTA interventional products.

OrbusNeich Medical Company Limited, a subsidiary of OrbusNeich Medical Group, agreed to acquire 84% of PT Revass Utama Medika, a distributor of cardiovascular and other medical devices in Indonesia. The purchase price is between $10.08 million and $20.16 million.

OrbusNeich Medical Group announced the acquisition of 100% interest in eucatech AG, a German developer and manufacturer of cardiovascular and endovascular devices, for EUR 2,400,000. eucatech AG will become a wholly-owned subsidiary, adding drug-eluting balloons and stents to OrbusNeich's portfolio.

OrbusNeich and Cardiovascular Systems Inc. (CSI), a subsidiary of Abbott Laboratories, amended their distribution agreement to extend OrbusNeich's appointment of CSI as exclusive distributor of coronary and peripheral balloon products in the US until December 31, 2027.

OrbusNeich's Hangzhou Fuchun Bay New Town production base is expected to commence construction by end of 2023, adding annual production capacity of 2.4 million product units.

OrbusNeich is expanding its Shenzhen production base, increasing total annual production capacity to 1.8 million units of balloons and 60,000 units of stent products.

OrbusNeich Medical (06929) plans to invest 300 million yuan in a vascular interventional medical device R&D and production base in Hangzhou, China. The facility will be the company's largest and have an annual capacity of about 2.4 million units.

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.