Conavi Medical and China Grand Pharmaceutical and Healthcare Enter into Distribution Agreement for Minimally Invasive Imaging Technologies in China
Conavi Medical Inc., a privately-held company developing image guidance technologies for minimally invasive procedures, is pleased to announce that it has entered into an agreement with an affiliate of China Grand Pharmaceutical and Healthcare Holdings Limited (CG Healthcare) to serve as the exclusive distributor of its Foresight Intracardiac Echocardiography (ICE) and Novasight TM Hybrid Intravascular Imaging systems in China, Hong Kong, Taiwan and Macau.
Dr. Brian Courtney, Conavi's President and Chief Executive Officer states that "This agreement represents an important commercial milestone for Conavi. China has the second largest volume of cardiovascular interventional procedures in the world and is growing quickly as a result of extensive investments in healthcare infrastructure. We are delighted to have found a partner that shares our vision of bringing the potential benefits of advanced image guidance to a broad range of existing and emerging minimally invasive cardiovascuar procedures to patients in China."
Conavi's Foresight ICE system has received 510(k) clearances from the United States Food & Drug Administration (FDA) and a Medical Device License from Health Canada and is currently being marketed in North America. The Novasight Hybrid system combines the two most frequently used intravascular imaging technologies, intravascular ultrasound (IVUS) and optical coherence tomography (OCT) into a single catheter and platform. The Novasight Hybrid system has been submitted to the US FDA for 510(k) clearance.
About Conavi Medical Inc.
Conavi Medical Inc. is a privately-held commercial-stage medical device company focused on designing, manufacturing and selling technologies to guide minimally invasive procedures. The company is commercializing technology initially invented at Sunnybrook Research Institute in Toronto, Canada. For more information, visit www.conavi.com .
About China Grand Pharmaceutical and Healthcare Holdings Limited.
China Grand Pharmaceutical and Healthcare Holdings Limited is a Hong Kong-based investment holding company listed on The Stock Exchange of Hong Kong (HKG:0512). Through its subsidiaries, the company engages in the research and development, manufacture and sale of pharmaceuticals, medical devices and other healthcare products.