XinAoMDT Technology Co. Ltd., a joint venture between XinAo Group China and Multidimensional Technology LLC USA is now working towards being listed on the Nasdaq and go in for a public issue. The company recognized as a global smart technology IT leader is already making efforts to go public between 2008-09.
The main reason for the public issue is that many investors from Europe and Hong Kong are keen to invest in the company, Jianyu Lian, general manager, XinAoMDT said. The proceeds of the IPO will be used for R&D and manufacture, he added
With the ratio of medical devices to pharmaceutical drugs in China being 1:4, the Chinese government is now keen to offer advanced diagnostics to people. XinAoMDT is looking at a major expansion in terms of product research, manufacture and marketing. The company is ahead of the global majors going by the efforts to launch the latest most advanced MRI system in the world. Called as Permanent MRI 0 .7T , the product is expected to be made available to healthcare centres in 2007. The new version features 1.0 super conductivity and no helium technology making it the latest solution in smart medical IT systems. Since it sans helium use, it will make it a highly cost effective diagnostic option for patients across the globe.
According to Lian, a combination of factors which has led XinAoMDT to be recognized as a global medical equipment major. One of them is that the company has the technical talent supported by research collaborations with Harvard University MIT, University of Connecticut, Tsinghua University and Peking Medical College. It has also established business partnerships with over 500 global corporations.
The company is earnest to innovate and manufacture of intelligent medical technologies and products. Its current product lines include digital medical imaging systems, MRI guided therapy systems and intelligent medical solutions. It is the technical talent which has led us to be in a niche space, explained Lian who is an electrical engineer armed with a doctorate in Physics from the University of Pittsburg.
The leading products are Centauri MPF300 which is known for its accuracy in diagnosis, patient comfort and easy access for localization of tumours.