Wednesday, 02 December 2020

Lifetech enters Western markets

01 December 2014 | News | By BioSpectrum Bureau

Lifetech enters Western markets

Singapore: Lifetech's Ceraflex occluders would be the first Chinese medical devices brand to enter the western medical device mainstream market. Medtronic, a global leader in medical technology, has acquired the first batch of Ceraflex from Lifetech to supply in the western markets.

An occluder is a catheter-delivered device that blocks a hole in the wall of a heart. Often the occluder is designed with an umbrella-type design and is folded up until the catheter arrives at the area of the defect in the heart. Once in place the occluder is unfolded on both sides of the defect so that pressure from both sides keeps it in place. The device will be implanted into the body and will stay with the patient for his life.

This particular consignment is an evidence of this product's compliance with the strict international standards and regulations on medical devices designed for safe implantation into the human body, and the further cooperation between Lifetech and Medtronic.

According to Market watch, China was symbolized as the 'world's factory' known for its cheap and low-end products. Medical devices have strict regulatory restrictions and for long 'Made in China' was not an acceptable brand.

"With the medical devices industry still recording a high trade deficit, the entry of Lifetech into the western medical devices market through Medtronic's global leading channels is indeed a remarkable achievement," said market analysts.

Mr Zhao Yiwei, executive director and CEO of Lifetech, said, "Medtronic opening its overseas distribution network to Lifetech marks a breakthrough of Chinese local brands matching the globally accepted stringent standards of medical devices."

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