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WORK Medical Technology Group LTD Announces Strategic Partnership with Shanghai Chartwell Medical Device Co., Ltd.
Hangzhou, China, Feb. 28, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical
About this update from Work Medical Technology Group Ltd
[{"type":"text","content":"Hangzhou, China, Feb. 28, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical devices, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today announced a strategic partnership with Shanghai Chartwell Medical Device Co., Ltd. (“Chartwell Medical”), a high-end medical products manufacturer across diverse fields, including nuclear medicine, imaging, infection control, ophthalmology, and rehabilitation robotics, to drive industrial synergy and accelerate their growth in the healthcare sector. The collaboration is to be carried out through Chartwell Medical’s subsidiaries, including Fuluo (Shanghai) Medical Equipment Co., Ltd., Fuying (Shanghai) Medical Equipment Co., Ltd. (“Fuying”), and Fufeng (Suzhou) Medical Treatment Technology Co., Ltd. (“Fufeng”). Fuying is a joint venture formed by Chartwell Medical and Sakura Seiki Co., Ltd. Fufeng is a company engaged in the sales of medical rehabilitation device co-developed by Chartwell Medical, Toyota Motor Corporation, and Toyota Tsusho Corporation. To drive mutual growth and unlock new opportunities, the partnership is expected to address the following initiatives: Establishing joint investment funds to align industrial and financial resources;WORK Medical investing in Chartwell Medical or merging Chartwell into WORK Medical; andCo-investing in key projects in the future, including healthcare infrastructure, research and development of advanced technology, and global acquisitions. Mr. Wu Shuang, chief executive officer and chairman of the board of directors of WORK Medical, commented, “We are delighted to enter into a strategic partnership with Chartwell Medical. This collaboration reflects our shared commitment to mutual growth and innovation. By leveraging our combined strengths and resources, we aim to enhance operational efficiency, market leadership, and international competitiveness. In addition, our mutual goal is to advance high-end medical technologies, strengthen competitiveness in the global healthcare industry, and accelerate the adoption of cutting-edge solutions in domestic markets.” He added, “As specific cooperation projects with Chartwell Medical are gradually implemented, we expect our product portfolio to be further enriched and im...