Hansen Medical (NSDQ:HNSN) today said it inked a distribution deal in China for its Magellan robot-assisted surgery platform, giving China National Medical Device Co. the exclusive right to sell Magellan in the People’s Republic.
The deal calls for CMIC to take on regulatory approvals in China and includes a minimum purchasing commitment, Mountain View, Calif.-based Hansen said.
"The entire team at Hansen Medical is excited about our partnership with China National Medical Device Co.," Hansen president & CEO Cary Vance said in prepared remarks. "Further, we are enthusiastic about the significant opportunities in China as we build on our strategy to expand commercialization efforts for the Magellan robotic system in Asia."
"We are very excited to be partnering with Hansen Medical in the field of Intravascular Robotics. Vascular disease is quite prevalent in China and we anticipate that the Magellan robotic system will become a key technology for physicians treating an expanding patient population seeking endovascular therapies," CMIC general manager Dr. Yingzhi Wang added.
Earlier this month Hansen drummed up a $30 million private placement from a syndicate of investors that includes its founder, a director and a pair of hedge funds.