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Health & Biotech
Medtech Analytica (ASX:ALT) has just announced a joint venture (JV) with two Chinese companies to manufacture and distribute its pelvic floor exercise device, the PeriCoach, in the country.
PeriCoach will be registered with the Chinese Food and Drug Administration as a class II medical device. This means the device can become a prescription treatment in hospitals and healthcare centres.
Along with hospitals, the deal will see PeriCoach marketed to postpartum care centres, pharmacy chains, and online platforms serviced by the JV partners.
The company says there is a fast growing postpartum rehabilitation market in China, along with the early-stage preventative senior market.
The deal today builds upon PeriCoach’s expansion in the Middle East, and will be the catalyst for further expansion globally.
PeriCoach is comprised of a medical device, smartphone app and the PeriVault, the largest pelvic floor muscle exercise database in the world. It helps women and seniors do pelvic floor exercises, known as the Kegel exercises, correctly.
The device is especially designed to provide cost-effective solution to ease burden of care in postpartum, as well as ageing populations and eliminating the daily cost of diapers.
It’s currently manufactured in Australia, but the new deal will mean that manufacturing for the Chinese market will move to the Shijiazhuang National New and High Technology Development Zone, a designated free trade zone for technology companies.
The PeriCoach has been granted patent protection in China since 2016.
Latest half year results show that revenues were up by 7 per cent to $81k, for a net loss of $450k – as the company continues to invest substantially in the development and marketing of PeriCoach.
Trades in the the Analytica’s shares have been thin over the past year, but today’s announcement has pushed them higher by 100 per cent.
Health & Biotech
Health & Biotech
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