COLUMBIA, Maryland, April 8, 2019 /PRNewswire/ -- ACell, Inc. today announced that it has entered into an exclusive long-term product supply and distribution agreement with First Horizon, LLC and Weihai Jierui Medical Products Co., Ltd. a division of Shandong Weigao Group Medical Polymer Company, Ltd. Weihai Jierui is a leading manufacturer and distributor of medical devices in China.
The terms of the distribution agreement grant exclusive rights to Weihai Jierui for the sale, marketing, and distribution of ACell's MicroMatrix® and Cytal® Wound Matrix devices in mainland China and Hong Kong for 10 years after marketing clearance. Weihai Jierui has also committed to collaborate with ACell on obtaining regulatory approvals necessary prior to commercialization.
"ACell is excited to be entering this partnership, and we look forward to working together with Weihai Jierui to address the rapidly growing need for effective wound management products in China," said Nino Pionati, ACell Vice President, International and Business Development. "We greatly appreciate the opportunity to work with such an esteemed partner in delivering ACell's cutting edge wound management products to the people of mainland China and Hong Kong."
"Weihai Jierui is pleased to be entering this agreement, and to be building the foundation of a lasting partnership with ACell," said Weihai Jierui President and CEO Xiaotong Chen. "The ability of Cytal and MicroMatrix devices to manage difficult wounds and facilitate remodeling of healthy, functional tissue will be a clear benefit to Chinese physicians and the patients they treat."
"China represents a medical device market size of more than 65 billion dollars, and the country's aging population and rising rates of diseases like obesity and diabetes mean there is significant and growing need for ACell's wound management devices," said ACell CEO Patrick McBrayer. "This agreement represents not only a significant milestone in ACell's global expansion, but the initiation of an important partnership that will help Chinese patients and offer substantial growth prospects for both of our organizations."
About ACell, Inc.
ACell, Inc. is a leading regenerative medicine company focused on the development, manufacturing, and commercialization of medical devices for wound management and surgical soft tissue repair. ACell is committed to becoming and remaining an innovative leader in regenerative medical technology, offering superior healing options for doctors and patients. ACell is a privately held company and operates manufacturing facilities in Columbia, MD and Lafayette, IN. For more information about ACell please visit www.acell.com.
About Weihai Jierui Medical Product Co., Ltd.
Weihai Jierui Medical Product Co., Ltd was established in 1999 with the goal of becoming the largest manufacturer of wound care products, and is a subsidiary high-tech enterprise of Shandong Weigao Group Medical Polymer Products Co., Ltd. (Hong Kong H-share listed companies, stock code 1066) . The company product portfolio includes wound care series, surgical suture series, ostomy care series, needle injection series, PVC pellets and TPE pellets series. Weihai Jierui has built wide sales network and their professional teams are globally engaged in healthcare services. Weihai Jierui has as its mission "Your Health, We Care."
About Shandong Weigao Group
Shandong Weigao Group Medical Polymer Products Co., Ltd. and its subsidiaries (together, the "Group") are principally engaged in the research and development, production and sale of single-use medical devices. The Group has a wide range of products, which includes consumables, orthopedic materials, and blood purification consumables and equipment. The Group's main production facilities are situated in Weihai, Shandong Province. The Group is incorporated in the People's Republic of China and has an extensive sales network comprising 25 sales offices, 38 customer liaison centers, and 170 cities with sales representatives. Shandong Weigao Group has a total customer base of 5,159 (including 3,090 hospitals, 414 blood stations, 611 other medical units, and 1,044 distributors). For more information on Shandong Weigao Group, please visit http://en.weigaogroup.com.
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