Boston Scientific finds new Chinese partner
Boston Scientific has aligned itself with a Chinese company that will help the Marlborough-based medical device manufacturer reach out to more doctors in that country who remove stones from patients’ bile ducts.
Boston Scientific (BSX) will also buy an undisclosed stake in the company, Frankenman Medical Equipment Co., according to a statement from BSX.
The agreement between the two firms will allow both to reach more doctors and treat more patients by providing training on less-invasive endoscopic technologies, as well as their clinical and economic benefits, the BSX statement said.
Warren Wang, a managing director and vice president for BSX in China, said more than a million bile duct stone-removal procedures are performed each year in China. "While less invasive endoscopic procedures can lead to better patient outcomes and reduced health care costs, access to these procedures is extremely limited," he said in the statement.
Under the terms of the agreement, Boston Scientific, as a shareholder, will also provide services and expertise to Frankenman to support its continued growth, development pipeline and manufacturing capabilities. The companies have agreed to work together to develop and manufacture products in China to better serve the unique needs of the Chinese market, as well as jointly commercialize selected products in China, the Boston Scientific statement said.
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