Medical technology lobbying group AdvaMed announced this week that it won approval from Chinese authorities to open an office in Shanghai, an important emerging market for many of AdvaMed’s largest member companies.
The lobby hopes to use the new location to better reach Chinese medtech stakeholders and regulators and work on behalf of the industry to open doors to partnerships and other opportunities. AdvaMed further established a "China Council," comprised of senior China representatives from several member companies.
"Official approval of our China office further solidifies our commitment to this important market, where many of our members have made substantial investments and established research facilities that contribute to China’s growth," global strategy & analysis executive vice president Ralph Ives said in prepared remarks. "Advanced medical technologies hold great potential to improve patient outcomes, control burgeoning health care costs and boost the efficiency of China’s health care system. Our new China office will enhance our ability to make our case with local officials and other stakeholders."
AdvaMed plans to focus initially on efforts to streamline China’s medtech regulation, boost reimbursement and harmonize ethical standards with ones already in place elsewhere. The new office will help supports efforts long underway in the country.
China remains an important market for medtech’s titans, which have been vying for superiority in the country’s burgeoning healthcare market.