12 Jun 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Reverse Medical announced entering into a strategic partnership agreement with Century Medical (CMI), for distribution of the Reverse Medical products in Japan. CMI, a subsidiary of ITOCHU, is the premiere medical device product distributor in Japan.
Commenting on the agreement, Reverse Medical president and CEO Mr Jeffrey Valko said, "We are extremely pleased to have CMI as our strategic partner. The depth and strength of CMI's network throughout Japan will greatly assist Reverse Medical in developing a leadership role in treating patients with complex neurovascular disorders. CMI has made a significant financial commitment to both Reverse, and to funding the regulatory approval process for the Reverse products in Japan, and will concentrate on moving Reverse's Barrel Vascular Reconstruction Device (VRD), Micro Vascular Plug (MVP) embolization device, and Reverse's other products through the Japanese regulatory approval process. We continue to actively develop similar partnerships for European distribution of our products."
Nobuyuki Sakai, managing director (Kobe, Japan) said, "Reverse Medical has developed several unique and useful technologies for neuro interventional procedures. I am pleased by CMI's recognition of the innovative and unique differentiating value of the Reverse technologies, and the promise for significant market adoption in Japan."
CMI president and CEO Mr Akira Hoshino added, "We are truly impressed by the ongoing innovation from Reverse Medical and the speed with which they have achieved product development, regulatory approvals and successful human clinical experience. CMI believes the Japanese market for unique products to treat patients with complex neurovascular conditions remains vastly under-penetrated, with significant opportunity for advanced technology adoption and growth." CMI and Reverse Medical are working towards regulatory approvals from the Japanese Ministry of Health, Labor and Welfare.