TrueVision® and Weigao Holding form Joint Venture in China
State-of-the-Art 3D Surgical Technology Debuts at Asia-Pacific Academy of Ophthalmology (APAO) in Beijing
Santa Barbara, CA (October 4, 2010) — Santa Barbara-based TrueVision®
3D Surgical (TrueVision®
) and Weigao Holding Company Limited (Weigao Holding), China’s leading medical device company, have agreed to form a new joint venture, Weihai Weigao TrueVision 3D Surgical Systems Company Limited, announced Forrest Fleming, CEO of TrueVision®
The new company will focus on popularizing TrueVision’s state-of-the-art 3D technology within China, the world’s fastest growing medical market. TrueVision®
has been selling its 3D surgical system in the USA since 2008.
will own a 45% share of Weigao-TrueVision JV, while Weigao Holding will own 55%. The Weigao-TrueVision JV will operate exclusively in the China market. The unique business arrangement includes Weigao Holding contributing funds into the JV and providing market access through its established distribution systems throughout hospitals in China. TrueVision®
will contribute the intellectual property and clinical/regulatory assets.
On September 16, 2010 TrueVision®
3D surgery made its debut in China to thousands of surgeons at the Asia-Pacific Academy of Ophthalmology (APAO) conference and received a very positive response.
“We are very optimistic about our growing relationship with Weigao Holding. This JV agreement is a significant step, but really only the beginning of a long-term relationship.” says Mr. Fleming, CEO of TrueVision®
. “It’s a national priority within China to expand their hospital network and acquire state-of-the-art medical technology. TrueVision®
is a perfect product for China at this time in their healthcare development. Weigao Holding, with its reputation and position within the China healthcare market, is an ideal partner.”
About TrueVision® 3D Surgical
3D Surgical is the leader in digital 3D visualization for microsurgery. Based in Santa Barbara, Calif., TrueVision®
has developed and patented an intelligent, real-time, 3D surgical visualization platform. The company is focused on developing a suite of 3D guidance applications for microsurgery to assist surgeons and positively impact patient outcomes. Visit www.truevisionsys.com
for more information.
About Weigao Holding Company Limited
Weigao Holding is the People’s Republic of China’s leading medical device company, headquartered in Weihai City of the Shandong Province. Weigao Holding’s products include infusion sets, syringes, blood transfusion sets, and orthopedic, cardiovascular stent and blood purification products. With over 12,000 employees and 1300 sales representatives they have an extensive distribution network to all hospitals within China. Weigao Holding has demonstrated an ability to form successful partnerships with high technology medical device companies including Medtronic and Nikkiso. www.weigaoholding.com
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