Aircraft Medical signs marketing and distribution agreement for McGRATH® Series 5 in China (Press Release)
Posted on Thu 17th December 2009
EDINBURGH, December 17, 2009 - Aircraft Medical, the UK medical devices company, today announces that it has signed a five year exclusive agreement worth a potential $10 million with Gloryway Technology Co. Ltd (Gloryway) to market and distribute the McGRATH® Series 5 Laryngoscope, the world’s first fully portable video laryngoscope, in China.
Founded in 2000 and headquartered in Beijing, with branch offices in Shanghai, Guangzhou and Wuhan, Gloryway is one of China’s leading medical device distribution partners. Gloryway has strong relationships with the key airway management opinion leaders in China and its regional offices and nation wide network of sales and distribution channels give it significant national reach.
China had an annual growth rate of 15% in its sales of medical apparatus over the past ten years. Currently worth US$15 billion, China is the third largest medical market in the world and is expected to surpass Japan in the next five years to become the second largest.
The launch in China is the most significant step yet in the Asia Pacific expansion of the McGRATH® Series 5 and follows on from the successful launch of the product in India earlier this year.
David Bowie, Head of Sales & Marketing, Aircraft Medical, said: “The launch of the McGRATH® Series 5 in one of the world’s fastest growing anesthesia apparatus markets is a significant milestone in Aircraft’s global strategy. This agreement brings the total number of territories in which the McGRATH® Series 5 has been launched to 25. In Gloryway, we have a partner with an excellent distribution network in China and a track record of delivering strong sales growth in anesthesia and critical care markets.”
Tracy Zhang, CEO of Gloryway, commented: “We look forward to bringing the McGRATH® Series 5 to medical professionals in the Chinese market through our national network of specialised sales representatives. The McGRATH® Series 5 represents a benchmark for excellence in airway management and perfectly complements our existing portfolio of products.”