MicroPort® Orthopedics Signs Strategic Agreement with Wiltrom Medical
Shanghai, China - Shanghai MicroPort Orthopedics Co., Ltd. ("MicroPort® Orthopedics") signed a strategic agreement with Taiwan-based Wiltrom Medical Device Co., Ltd. ("Wiltrom Medical"), which provides MicroPort® Orthopedics with the exclusive marketing rights for Wiltrom Medical's products Bone Graft Substitute and Spinal Fixation System in the Chinese mainland.
The signing ceremony was held in the headquarters of MicroPort®. Dr. Huangqian Liang, General Manager of Wiltrom Medical, and Zixin Weng, President of MicroPort® Orthopedics China, signed the agreement on behalf of the two companies. Glendy Wang, Chief Operation Officer ("COO") of Shanghai MicroPort Medical (Group) Co., Ltd. ("MicroPort®"), Dr. Chengyun Yue, First Vice President of MicroPort® Corporate Strategy and Planning, and other senior management attended the ceremony.
Wiltrom Medical is a spin-off of Industrial Technology Research Institute. It is dedicated in the research and production of a wide range of various high-end, implantable, Class II and III medical devices. The development of products is strongly focused on innovation and to create a highly competitive private brand on the market internationally. This partnership aims to introduce two of Wiltrom Medical's primary products into the Chinese mainland market: Bone Graft Substitute and Spinal Fixation System. Bone Graft Substitute is in-house developed by Wiltrom Medical and has obtained approval from US Food and Drug Administration. It features high porosity, interconnected pores, and excellent biocompatibility and osteoconductivity. Spinal Fixation System with its matching instruments is jointly developed by Wiltrom Medical and US clinicians. It has high recognition in the Taiwan market as it fits clinical needs and effectively improves the surgical success rate.
MicroPort® COO Glendy Wang said: "Wiltrom Medical is dedicated to innovative R&D strategies, which highly accords with the R&D philosophy of MicroPort®, and the two products contained in the strategic agreement also reflect such innovative philosophies. This partnership is expected to enhance the market competitiveness of MicroPort® Orthopedics' spine and trauma products, and we hope through deep collaboration, the two parties would leverage complementary strength and resources to jointly promote the development of orthopedic medical device industry."
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