Recently, Scivita Medical Technology Co., Ltd. ("Scivita Medical") and Boston Scientific Corporation (NYSE: BSX), a leading global medical technology company, joined hands again to sign an expanded strategic cooperation arrangement.
The Strategic Cooperation Arrangement Signing Ceremony between Scivita Medical and Boston Scientific. Image Credit: Scivita Medical
Recently, Scivita Medical Technology Co., Ltd. (“Scivita Medical”) and Boston Scientific Corporation (NYSE: BSX), a leading global medical technology company, joined hands again to sign an expanded strategic cooperation arrangement.
The introduction of iterative endoscopic technology has brought about a positive transformation in the field of endoscopy, making it an interventional tool that combines diagnosis and treatment. Single-use videoscopes are considered a solution to cross-infection in traditional endoscopy, making them a promising solution for the future medical endoscope market. The global market value of single-use videoscope was USD 0.5 billion in 2020, and is estimated to increase to USD 9.2 billion in 2030, according to Frost & Sullivan.
Scivita Medical is a medical device company that provides minimally invasive diagnosis and treatment solutions, and focuses on research, development and commercialization of medical endoscopes and related products. The company has made globalization its strategic goal. Scivita Medical is making progress towards this goal through strategic cooperations with Chinese enterprises and multinational companies, like Boston Scientific.
Under the arrangement, Scivita Medical will expand its relationship with Boston Scientific for strategic co-development and global distribution activities. Such activities may include collaboration on the co-development of future endoscopic devices, and global distribution opportunities for Scivita Medical’s single-use endoscope and imaging devices. It is expected that this expanded arrangement will help bring Scivita Medical products to more hospitals and patients throughout China and other global geographies.
“We are excited to further our relationship with Scivita Medical which we anticipate will help provide physicians with more device options in geographies around the world,” said Mike Jones, senior vice president and president, Endoscopy, Boston Scientific. “We look forward to successfully building on that relationship with this new arrangement.”
“I am delighted to announce the deepened collaboration between Scivita Medical and Boston Scientific, a leading global medical technology company. This strengthened relationship will help us combine our core strengths and expertise to deliver high-quality single-use endoscope solutions to doctors and patients in various regions across the globe. Working with a company like Boston Scientific is crucial to Scivita Medical’s globalization strategy. We will continue to focus on innovative research and development, expand our business cooperation models, and provide more innovative, high-quality, and accessible products to benefit doctors and patients worldwide,” said that Dr. Chin To, Co-founder, General Manager, and Chief Technology Officer of Scivita Medical.
Source: Company Press Release