Business
MedMira Enters Strategic Partnership with Triplex International Biosciences to Accelerate Growth in China
HALIFAX, June 30 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\nHALIFAX, June 30 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,\nNASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and\nsolutions, announced today that it is making progress on market development in\nChina through the creation of a strategic partnership with Triplex\nInternational Biosciences Co., Ltd. (Triplex), a major player in China's\ndiagnostics sector.\n\n\nWith recorded sales revenue of nearly USD $30 million last year, Triplex\nhas a well established healthcare customer base, which includes over 2,000\nhospitals and medical institutions across 29 provinces and autonomous regions\nwithin China. The Triplex product line is comprised of over 45 molecular\npathology diagnostics products, including some of the top brands in the\nindustry. Triplex also has access to many experts, academics and doctors\nworking in hospitals and research institutions across China through the\nChinese Committee of Pathology.\n\n\n"This partnership brings the strong sales and marketing platform that\nTriplex has built in China together with MedMira's world-class products, to\noffer customers quality diagnostic solutions and increase revenue potential\nfor both companies," said Hermes Chan, CEO of MedMira Inc. "For us China is a\nlong-term business initiative and working with Triplex is a natural extension\nof MedMira's growth strategy for the China market."\n\n\nMedMira will initially be working with Triplex to increase product sales\nin China through their existing distribution channels. Over the course of the\nlast few months, Triplex has undertaken market testing with MedMira rapid\ntests and the feedback has been very positive. In addition to these pre-sales\ncustomer trials, Triplex also engaged the China Centers for Disease Control\nand Prevention (CDC) to evaluate the MedMira tests.\n\n\nChan continued, "We believe our partnership with Triplex will evolve to\ninclude co-development of new rapid tests, technology transfers, and\ncollaborative research projects in the future. Market conditions are changing\nrapidly in the China as new healthcare system reforms take shape. Together\nMedMira and Triplex can capitalize on the need for improved and cost-effective\ndiagnostics."\n\n\nIn April 2009, China's government announced a $125 billion USD investment\nin significant...