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Cardiac science and Chindex sign AED distribution pact for China

Bethesda, MDFriday, June 4, 2004, 08:00 Hrs  [IST]

Cardiac Science, Inc and Chindex International, Inc jointly announced a multi-year distribution agreement to market Cardiac Science's line of Powerheart brand automated public access defibrillators (AEDs) on an exclusive basis to hospitals and other medical supply dealers throughout mainland China. Powerheart AEDs will be sold exclusively via Chindex' hospital sales business unit, which operates a network of more than 500 local area dealers located in both urban and rural centers throughout the country. The agreement also allows Chindex to distribute Cardiac Science AEDs on a non-exclusive basis into other emerging market segments. Chindex president and CEO Roberta Lipson said that the AED market in China is quickly taking shape. Lipson expects the market to soon progress beyond hospitals and physician offices to first responder organizations and public places as it has in other industrialized nations. "We believe this is an ideal partnership - a winning combination of distribution capabilities and quality products," said Lipson. "Chindex has been a well established player in the Chinese medical market for more than two decades. Our sales organization reaches deeply into the Chinese hospital system throughout the country - very few institutions have deployed AEDs. Given our distribution capabilities combined with Cardiac Science's quality products we believe we can gain a significant share of this emerging AED market," she added. Cardiac Science chairman and CEO Raymond W. Cohen said, "The healthcare market in China mirrors other Chinese industries in its rapid development and tremendous size. As we have demonstrated by gaining the number one market share position in Japan, the most important factor in an emerging international market is selecting the right strategic distribution partner. Chindex is amazingly well positioned to take advantage of growing demand for AEDs in the Chinese market. Clearly, we have made the right choice and we look forward to jointly developing this promising opportunity."

 
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