Robocath announced today that it created a joint venture with MicroPort Scientific through its MicroPort MedBot subsidiary.
Rouen, France-based Robocath said in a news release that the partnership is designed to enable the commercialization of its R-One robotic-assisted platform in China, as MedBot is based in Shanghai.
Both companies are set to engage in research and development activities as agreed under the agreement, following an investment announced in April. Robocath holds 49% of the joint venture, while Medbot owns the remaining 51%.
Under the agreement, Robocath is set to begin commercializing its first robotic-assisted platform, the R-One, which is designed to enable and enhance interventional procedures, such as coronary angioplasty, “offering a better working environment for physicians and the entire medical team,” according to the company.
The expansion is slated to be facilitated by the local manufacturing of consumables and robotic assembly to ensure the optimal distribution of Robocath’s products in the specific market. The company plans to begin the regulatory processes in China for R-One immediately.
“We are excited to take this new step in our development which will permit us to rapidly penetrate the sector’s leading market,” Robocath chairman & founder Philippe Bencteux said in the release. “We are impressed with the resources made available by our partner to fast-track the approval of our product in China.”
“Since the announcement of our strategic partnership last April, we have strengthened our discussions with all of the Robocath team in order to establish this common structure which will undoubtedly ensure the commercial success of the R-One robotic-assisted platform in the Chinese market,” added MedBot GM Dr. Alex He.