Updated on 5 November 2013
He added, "With the Celution System now approved and available in more than 40 countries, we are uniquely positioned to expand our cell therapy brand by being first-to-market with cell therapy products in new geographies around the world. Lorem Vascular brings to Cytori the required resources, market knowledge, dedication and focus to commercialize this innovative treatment and pioneer the introduction of cell therapy products for patients with the most serious conditions."
"Expanding in emerging markets throughout the world is critical to our mission and growth and partnerships such as this are a key driver of our approach," said Mr David Oxley, VP, emerging markets, Cytori.
"China is one of the three largest and highest value medical markets in the world. A market penetration of less than five percent of the cardiovascular market alone represents millions of patients treated in the next thirty years, a multiple of billions in cost savings to the People's Republic of China, and a transformation in the quality and standard of care. The announcement with Lorem Vascular marks the beginning of an important partnership in transforming healthcare and will create long-term shareholder value."