OrbusNeich Extends Exclusive U.S. Distribution Agreement with Abbott Laboratories’ CSI Until End of 2027

(Hong Kong, 27 September 2023) – OrbusNeich Medical Group Holdings Limited (“OrbusNeich” or the “Group”; stock code: 6929), a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, is pleased to announce that the Group and Cardiovascular Systems Inc. (“CSI”), a subsidiary of Abbott Laboratories (NYSE: ABT) (“Abbott”), have entered into an amendment to the distribution agreement (the “Agreement”) pursuant to which the Group’s appointment of CSI as the exclusive distributor of coronary and peripheral balloon products within the U.S. will be extended until 31 December 2027.

Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, “We are delighted to announce the extension of our exclusive distribution agreement with CSI, which will further strengthen our alliance with this partner. Particularly following Abbott’s strategic acquisition of CSI in early 2023, this partnership allows us to leverage Abbott’s vast hospital coverage and strong local sales force in the U.S. to accelerate our growth in this major market. In addition to increasing the penetration of our unique products in the U.S., this collaboration also reinforces our unwavering commitment to improving the quality of life for more patients around the world through our dedication to providing innovative, safe, and effective solutions.”

OrbusNeich’s products are sold in over 70 countries or regions globally, with the U.S. as one of the major markets. OrbusNeich has engaged CSI as the exclusive distributor since its entry into the U.S. in 2017. This market has been one of the Group’s main revenue growth drivers since 2022. For the six months ended 30 June 2023, the Group’s U.S. market achieved a remarkable year-on-year revenue increase of 61.6%, reaching US$11.3 million and accounting for approximately 13.9% of the Group’s total revenue. Of particular note is the doubling of sales of scoring balloons in the local market. The exclusive distribution agreement signed with CSI under Abbott, a leader in the global healthcare sector, is expected to effectively accelerate the Group’s penetration of this market.


About OrbusNeich Medical Group Holdings Limited

OrbusNeich is a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, OrbusNeich sells its products in more than 70 countries and regions worldwide. It also specializes in coronary stent products and is actively expanding into neuro vascular intervention and structural heart disease. As of June 30 2023, OrbusNeich has more than 210 granted patents and published patent applications worldwide. Its in-house R&D team has more than two decades of product development experience and has developed world-leading proprietary technologies.

For more information, please visit the Group’s official website: https://orbusneich.com/

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Abbott’s portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Abbott’s 115,000 colleagues serve people in more than 160 countries.

About Cardiovascular Systems Inc.

Headquartered in St. Paul, Minnesota, the U.S., CSI is a medical device company that develops and commercializes products for the treatment of peripheral and coronary vascular disease. CSI’s products include peripheral orbital atherectomy systems, coronary orbital atherectomy systems, crowns, and accessories. It markets its products through its direct sales force in the United States of America to hospitals and clinics.