The Beijing-based Mednovo Group signs an agreement with Suzhou New District on Nov 16 to settle at the Jiangsu Medpark Accelerator. [Photo/WeChat account: snd-szgxqfb]
The Beijing-based Mednovo Group signed an agreement with Suzhou New District (SND) on Nov 16 to settle at the Jiangsu Medpark Accelerator, local media reported.
With investment worth a total of 1 billion yuan ($153 million), the group will promote the industrialization of projects such as aortic valve TAVR system, percutaneous mitral and tricuspid valve repair system, aortic and branch arterial thrombectomy system, neuro-intervention, and assisted reproduction.
Mednovo Group was founded in 2011 with focus on the research, manufacturing, sales, and investment and financing of the healthcare industry. It has 40 branches and 25 offices across China, offering products covering 15 departments such as cardiology, cardiac surgery, neurology, and neurosurgery.
The group realized annual sales of 2 billion yuan in 2018, 2.6 billion yuan in 2019, and is expected to reach 3.4 billion in 2020, growing over 30 percent year on year.
Jiangsu Medpark Accelerator, which was officially launched on April 28, has played a key role in helping SND develop its medical equipment industry, one of the five forerunner industries regarded by the district as new development engines, and will further stimulate the local biomedical industry.
