OrbusNeich Holds Groundbreaking Ceremony for R&D and Production Base in Fuyang, Hangzhou

(Hong Kong, 4 December 2023) – OrbusNeich Medical Group Holdings Limited (“OrbusNeich” or the “Group”; stock code: 6929), a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, held a grand groundbreaking ceremony for its R&D and production base in Fuyang, Hangzhou, on 3 December.

Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, “The groundbreaking ceremony of our new R&D and production base in Hangzhou marks another important milestone in the business development. Over the past few months, the tireless efforts of the entire group have led to significant advancements in expanding our product portfolio and sales channels through measures including acquisitions, strategic collaborations, product development, etc. With a consistent upward trajectory in sales volume and a pipeline of dozens of products across various development stages, the construction of the largest R&D production base in Hangzhou will serve as a formidable backbone for our business expansion, equipping us to cater to the pressing market demands in the medium-to-long term.”

Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich (sixth from the left) hosts the groundbreaking ceremony for the R&D and production base in Fuyang, Hangzhou, which will be the Group’s largest R&D and production base when completed.
 
The Group is to build its R&D and production base in Fuyang, Hangzhou, on a site of about 20,000 m2 and with gross floor area reaching 60,000 m2. When completed, the facility will mainly engage in the R&D and production of medical devices such as PCI and PTA intervention products, as well as structural heart disease interventional products, among others. The investment in fixed assets amounting to approximately RMB300 to 400 million. Currently, the Group has production facilities in Shenzhen, the PRC and Hoevelaken, the Netherlands, with an aggregate annual designed capacity of approximately 1.8 million units of balloon products and approximately 60,000 units of stent products. Upon completion of construction and commencement of production, the new production base is expected to increase the annual production capacity by approximately 2.4 million units of products.

Located in Fuyang District, Hangzhou, thenew production base will not only be the Group’s largest R&D and production facility, but also a strategic location in the Yangtze River Delta, upon its completion. Leveraging the advantages of Yangtze River Delta as a transportation hub and talent pool, the Group will be able to expand its production capacity, while enhancing its overall operational capabilities.

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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/