Saturday, 14 December 2019

Kaneka to invest 18.5% shares in medical device company

05 February 2019 | News

Kaneka expects diagnostic device sales to exceed $100 million by 2022, accelerating the development of this Kaneka business segment in the US, Europe and Asia, etc

Kaneka Corporation, Tokyo has entered into a strategic and investment agreement with an undisclosed US-based medical device company ("Company"). Under this agreement, Kaneka invested 18.5% of the Company's shares and plans to start sales as the exclusive distributor of the Company's patented FFR products in Japan as of 2020.

With the inclusion of the Company's FFR products, Kaneka expects diagnostic device sales to exceed $ 100 million by 2022, accelerating the development of this Kaneka business segment in the US, Europe and Asia, etc.

FFR: an indicator of blood flow impedance status caused by coronary stenosis, was used to evaluate the best therapeutic method for ischemic cardiovascular diseases  as myocardial infarction. When using FFR, a significant reduction in medical costs is expected by measuring the physiological effect of stenosis by selecting the best treatment in advance. In Japan, following the review of the medical compensation of April 2018, the evaluation of preoperative functional ischemia. Due to this legal reform, it is projected that the market size for FFR products will expand substantially in the near future.

In addition to these existing products for interventional and intravascular treatments, including balloon catheters and embolic coils, Kaneka will expand its business to include medical devices for diagnosis, where growth is expected to occur with FFR products using state-of-the-art Company.

Kaneka continues to seek partnerships for merger and acquisition opportunities, as well as targeting $ 100 million in diagnostic sales by 2022, providing solutions that contribute to healthy, energy-filled lives around the world.

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