HemCon Medical Technologies gained Chinese regulatory approval to start selling wound care products in the world’s largest nation.
HemCon, now a subsidiary of TriStar Wellness Solutions, will sell its full roster of wound care products in the People’s Republic. The Oregon-based company said it has already entered the China market this month by accepting an order through a distributor there.
HemCon, which launched in 2001 and is based in Portland, said it’s eying a Chinese wound care market worth approximately $1.2 billion.
"With our initial Chinese order in hand, combined with the Chinese government’s approval for import of our dressings, we are looking ahead to building a robust business in a rapidly growing market. We have expectations to participate in the fast growing pan-Asian health care industry and specifically the increasing demand for wound care in China," president & CEO Michael Wax said in prepared remarks.
China, which plans to nearly double the number of general doctors in the country by 2020, is a coveted market for medical device makers. For example, Hansen Medical (NSDQ:HNSN) recently sealed a distribution deal with China National Medical Device Co. for the exclusive right to sell its Magellan robot-assisted surgery platform in China.
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