Through the deal, Baheal will become Mason, Ohio-based AtriCure’s exclusive distributor in the region, replacing the company’s previous distribution partner.
“At Baheal, we’re continuously looking for ways to grow and expand our business. We believe that there is vast opportunity to treat patients and the market remains underpenetrated, and we’re confident that together, we are well positioned to grow and help more patients in China affected by atrial fibrillation,” Baheal Pharma chair Fu Gang said in a prepared statement.
AtriCure said that it hopes to pursue new product approvals in China over the next several years as it looks to bring its full portfolio of surgical ablation and left atrial appendage management devices into the Chinese market.
“We are pleased to have formed this new partnership with Baheal. With Baheal’s stellar reputation, their size and scale, combined with our market-leading devices, we are well positioned to establish a foundation for future growth in China,” AtriCure prez & CEO Michael Carrel said in a press release.
In April, AtriCure saw shares rise after the cardiovascular company’s first-quarter numbers showed a nearly 14% top-line gain and shaved a penny off its quarterly earnings loss.