HALIFAX, June 30 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and
solutions, announced today that it is making progress on market development in
China through the creation of a strategic partnership with Triplex
International Biosciences Co., Ltd. (Triplex), a major player in China's
diagnostics sector.
With recorded sales revenue of nearly USD $30 million last year, Triplex
has a well established healthcare customer base, which includes over 2,000
hospitals and medical institutions across 29 provinces and autonomous regions
within China. The Triplex product line is comprised of over 45 molecular
pathology diagnostics products, including some of the top brands in the
industry. Triplex also has access to many experts, academics and doctors
working in hospitals and research institutions across China through the
Chinese Committee of Pathology.
"This partnership brings the strong sales and marketing platform that
Triplex has built in China together with MedMira's world-class products, to
offer customers quality diagnostic solutions and increase revenue potential
for both companies," said Hermes Chan, CEO of MedMira Inc. "For us China is a
long-term business initiative and working with Triplex is a natural extension
of MedMira's growth strategy for the China market."
MedMira will initially be working with Triplex to increase product sales
in China through their existing distribution channels. Over the course of the
last few months, Triplex has undertaken market testing with MedMira rapid
tests and the feedback has been very positive. In addition to these pre-sales
customer trials, Triplex also engaged the China Centers for Disease Control
and Prevention (CDC) to evaluate the MedMira tests.
Chan continued, "We believe our partnership with Triplex will evolve to
include co-development of new rapid tests, technology transfers, and
collaborative research projects in the future. Market conditions are changing
rapidly in the China as new healthcare system reforms take shape. Together
MedMira and Triplex can capitalize on the need for improved and cost-effective
diagnostics."
In April 2009, China's government announced a $125 billion USD investment
in significant reforms to their country's healthcare system. Major initiatives
include the establishment of basic medical services for all urban and rural
residents, universal access to public health services, a basic medical and
drug plan for all residents, and the reorganization of the public hospital
system.
"We are pleased to work with MedMira in expanding their access to the
China market and offer our customers new rapid diagnostic solutions.
