YANGZHOU, China, Feb. 15,
2023 /PRNewswire/ -- Meihua International Medical
Technologies Co., Ltd. ("MHUA" or the "Company") (NASDAQ: MHUA), a
reputable manufacturer and provider of Class I, II and III
disposable medical devices with operating subsidiaries in
China, today announced the Company
has built up a team to lead the research and development of a
robotic surgical system and efforts to apply for approval for
production launch. The Company plans to engage in the design of a
surgical robotic assisted surgery ("RAS") system and the
integration of related software and hardware.
An RAS system generally consists of one or more arms that are
controlled by the surgeon, a master controller or console, and
which use a sensory system providing feedback to the user. RAS
enables remote surgery that combines elements of robotics and
telecommunications such as high-speed data connections and elements
of management information systems. Most domestic robotics companies
are in the midstream, designing their own robotic systems,
integrating hardware and software, often buying core components
from abroad.
The Company sees great market potential for RAS systems in
China. With a huge and aging
population but limited medical resources that are allocated
unevenly across the country, the significant gap in medical
resources in different areas gives rise to a pressing need for
medical RAS systems that could potentially help in completing
complex surgical operations in a more intelligent, safe and
efficient manner while reducing the uneven distribution of medical
resources and help medical staff more easily to master operation
skills to alleviate their workload.
Mr. Xin Wang, CEO of the Company,
commented: "We are excited to announce our plan regarding the
robotic assisted surgical system. Our new team is also working on
the early-stage planning of production capacity as we believe
market demand for such a system will be strong in China given the rapid development of relevant
technologies. With continuing advances in communication
technologies, the availability of greater bandwidth and more
powerful computers, the ease and cost-effectiveness of deploying
remote surgery units is likely to increase rapidly. Chinese
government policy supports innovative medical equipment, has a
green channel in place to speed up the approval process and our
Company will use this special policy in an effort to speed the path
to market and obtain the relevant license and clearance. The
Company has the potential and will endeavor to grasp this market
opportunities in order to drive and sustain meaningful growth well
into the future."
Currently 85% of surgeries in China are traditionally practiced, compared to
53% in the US. In the US, 68% of surgical procedures could have
been performed with robotic assistance, but only 4% were. According
to Precedence Research, the global surgical robotics market is set
to hit $21.3 billion by 2030 and
growing at a CAGR of 16.6% from 2022 to 2030. China presently has a low base of RAS usage
and availability and PWC forecasts that RAS usage in China will grow at a faster rate than in much
of the world. Meanwhile The Chinese government has also been a
strong advocate of medical robotics systems in its Healthy China
2030 plan, emphasizing that innovation and informatization are
critical factors for public health and that using medical robotic
systems could address the major gap between the supply of and
demand for medical resources, indicating the strength and market
potential of robotic assisted surgical systems in China.
About Meihua International Medical Technologies Co.,
Ltd.
Meihua International Medical Technologies is a reputable
manufacturer and provider of Class I, II, and III disposable
medical devices with operating subsidiaries in China. The Company manufactures and sells
Class I disposable medical devices, such as eye drop bottles,
medicine bottles and anal bags, and Class II and III disposable
medical devices, such as identification tape, gynecological
examination kits, inspection kits, surgical kits, medical brushes,
medical dressing, masks, disposable infusion pumps, electronic
pumps and puncture kits, which products are sold under its own
brands and also sourced and distributed from other manufacturers.
The Company has received international "CE" certification and ISO
13485 system certification and has also registered with the FDA
(registration number: 3006554788) for more than 20 products. The
Company has served hospitals, pharmacies, medical institutions and
medical equipment companies for over 30 years, providing more than
800 types of products for domestic sales, as well as 120 products
which are exported to more than 30 countries internationally across
Europe, North America, South
America, Asia, Africa and Oceania. For more information,
please visit www.meihuamed.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies, the Company's future
business development and plans of future business development,
including its ability to successfully develop robotic assisted
surgery systems and obtain licensure and certification for such
systems, financial conditions and results of operations, product
and service demand and acceptance, reputation and brand, the impact
of competition and pricing, changes in technology, government
regulations, fluctuations in general economic and business
conditions in China, and
assumptions underlying or related to any of the foregoing and other
risks contained in reports filed by the Company with the U.S.
Securities and Exchange Commission ("SEC"). For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, including under the section entitled "Risk Factors" in its
annual report on Form 20-F, as filed with the SEC on July 29, 2022, as well as its current reports on
Form 6-K and other filings, all of which are available for review
at www.sec.gov. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
For more information, please contact:
Janice Wang
Wealth Financial Services LLC
Phone:
+86 13811768599
+1 628 283 9214
Email: services@wealthfsllc.com
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SOURCE Meihua International Medical Technologies Co., Ltd.
