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HONG KONG, Jan. 2, 2025 /PRNewswire/ -- HKSH Cancer Centre organised the sixth "HKSH Symposium on Advances in Cancer Management" ("The Symposium") which was held on 12 December 2024 at the HKSH Eastern Building. With the theme "Breakthroughs in Cancer Management", the Symposium attracted approximately 800 healthcare professionals from around the globe to participate both in-person and online. As the HKSH Proton Therapy Centre marks its one-year anniversary, being one of over 120 proton therapy facilities worldwide, several experts from HKSH focused on sharing local experiences with Hong Kong's first proton therapy system in treating major cancers such as head and neck cancer, breast cancer, and paediatric cancer. They also explored groundbreaking advancements combining clinical and research cancer treatments, including MR-guided radiotherapy, genomic profiling in cancer for precision medicine, and latest advances in medical therapy for cancers. Dr. Walton LI, Chief Executive Officer of the HKSH Medical Group ("HKSH") and Medical Superintendent of Hong Kong Sanatorium & Hospital, highlighted in his opening speech, "After nearly two decades of efforts for the proton therapy project, Hong Kong's first proton therapy system officially commenced service in 2023, marking a significant breakthrough in medical technology for Hong Kong, thanks to the concerted efforts of multiple specialty teams. We hope the Symposium provides a platform for experts from different fields to exchange experiences and new knowledge, thereby striving to improve clinical outcomes in cancer treatment." Dr. LI also mentioned that besides providing clinical services and advancing research, HKSH has been collaborating with the Mayo Clinic in Arizona, USA, to offer specialised proton therapy training for oncology specialists, further establishing Hong Kong's role as a cancer medical hub in the Greater China region. Mr. Wyman LI, Chief Operating Officer of HKSH Medical Group and Director of Hong Kong Sanatorium & Hospital, emphasised in the closing, "With the opening of the HKSH Proton Therapy Centre, HKSH is now equipped with a full range of world-class advanced cancer radiotherapy systems. Our team has carried out approximately 300 proton therapy cases to date, mainly comprising breast cancer and prostate cancer cases, with paediatric patients making up about ten percent. HKSH will continue to steadily develop proton therapy services to implement treatment plans for major cancers, especially focusing on the needs of paediatric cancer patients to minimise treatment side effects and assist in their healthy growth." HKSH Cancer Centre, following the launch of proton therapy services, is steadily advancing into a new milestone. Now run on Happy Valley and A Kung Ngam campuses, HKSH Cancer Centre will continue to strive for the best experience for our patients throughout the patient journey with multidisciplinary services, ranging from cancer genetics, diagnostics, rehabilitation to counselling to offer high-quality and reliable medical options and services to cancer patients. Looking ahead, HKSH will host the fifth PTCOG Asia Oceania Congress in November 2025, marking the first international particle therapy academic meeting held in Hong Kong. It is anticipated to attract top global experts to explore innovative treatments, further promote and enhance healthcare standards, and bring hope for treatment to cancer patients. For more information:Learn more about HKSH Proton Therapy Centre hereWatch our Proton Therapy video series here For enquiries, please contact:Corporate Affairs Department, HKSH Medical Groupmedia@cad.hksh.com
The Rise of Home Testing for a Safer Future with AwarerHOME™ KUALA LUMPUR, Malaysia, Jan. 2, 2025 /PRNewswire/ -- HIV remains one of the most pressing health issues globally, yet for many, the conversation around it is still surrounded by discomfort and stigma. Despite advances in treatment and care, a significant number of people remain unaware of their HIV status due to fears of judgment or the inconvenience of traditional testing methods. Raising awareness about HIV and encouraging testing is crucial in reducing transmission rates and improving public health outcomes. In recent years, there has been a shift towards more accessible, private, and user-friendly health solutions, with at-home testing kits leading the way. These innovations are helping to break down barriers, offering a more comfortable and confidential way for individuals to take control of their health. AwarerHOME™ HIV Oral Self-Test The growing demand for home diagnostic kits highlights a broader trend in healthcare—empowering individuals to make informed decisions about their health without the discomfort or perceived judgment often associated with traditional testing environments. In recent years, health technology has transformed how people approach their well-being, offering an unprecedented level of autonomy and privacy. Home diagnostic kits are at the forefront of this shift, allowing individuals to manage their health proactively in the comfort of their own homes, particularly when it comes to sensitive health concerns like HIV. With the ability to test in the privacy of one's own space, individuals are more likely to seek testing and take proactive steps toward their health. One of the most significant benefits of at-home testing kits is their ability to facilitate early detection and preventive care across a range of health issues. From monitoring blood sugar levels to screening for infections, home diagnostic kits allow individuals to address health concerns promptly, on their own terms. Traditionally, certain tests—especially those for stigmatised health concerns like HIV—come with barriers, such as discomfort, perceived judgement, or limited accessibility. Home tests are changing this, enabling individuals to manage their health independently and act early if needed. For conditions like HIV, the need for accessible testing is especially urgent. With HIV, early diagnosis and treatment have been shown to significantly improve quality of life and health outcomes. However, many people still refrain from testing, often due to social concerns or personal discomfort with traditional testing settings. Home testing provides a solution by offering a safe, confidential, and convenient method to check one's health status, helping to create a safer, healthier society. In a time when personal health is increasingly in the spotlight, home testing kits support a proactive culture of self-care and health management, breaking down barriers that would otherwise keep people from seeking testing. At the forefront of this innovation is the AwarerHOME™ HIV Oral Self-Test, a pioneering example of how home testing kits are evolving to meet society's needs. With a remarkable 99.61% accuracy, a sensitivity of 99.23% and a specificity of 100%, AwarerHOME™ allows individuals to manage their HIV status privately and accurately, providing results within 15 minutes. This painless, non-invasive test uses an oral swab instead of a needle, ensuring a stress-free experience. For those who may be hesitant to visit a clinic or hospital, AwarerHOME™ offers a reliable, confidential solution that puts health management firmly in their hands. AwarerHOME™ is available for purchase at selected Watsons online store and stores that have a pharmacist or nutritionist attached. It can also be found on their website iamawarer.com, or their Shopee online stores UT Pharmacy, and Awarerhome.os. -END- About AwarerHOME™AwarerHOME™ is Malaysia's pioneering HIV Oral Self-Test, awarded the Innovation Award at the Malaysia National Business Awards 2024. Committed to empowering individuals with private, accurate, and easy-to-use HIV testing. AwarerHOME™ offers a safe, non-invasive testing experience from the comfort of your home. Embracing the vision of accessible, anonymous, and accurate testing, AwarerHOME™ leads a movement toward a healthier, more informed society. About Universal Therapeutics GroupUniversal Therapeutics Group is a leading medical device manufacturer based in Malaysia. The company specialises in developing innovative and reliable healthcare solutions, with a particular focus on women's health and infectious diseases. Universal Therapeutics is committed to providing high-quality medical devices that empower individuals to manage their health effectively.
SEOUL, South Korea, Dec. 31, 2024 /PRNewswire/ -- CG MedTech (f/k/a Innosys, CEO Ju Mi Chung), a leading Korean orthopedic implant research and manufacturing company, partnered with CGBIO to host the International Spine Endoscopy Training Course. The event welcomed 12 medical professionals from nine countries, including Mexico, Switzerland, and India. Led by Professor Jin-Sung Kim (also known as Luke) of Seoul St. Mary's Hospital, The Catholic University of Korea — a world-renowned expert in minimally invasive and endoscopic spine surgery — the program showcased Korea's leadership in advanced surgical techniques and medical device innovation. CG MedTech and CGBIO Showcase Korea’s Spine Surgery Excellence to Global Experts The training course featured advanced spine model simulators from Germany, Canada, and Italy. These simulators replicated human anatomical structures, including blood vessels, muscles, bones, and ligaments, providing participants with an unparalleled hands-on experience. The program focused on full-endoscopic and biportal endoscopic spine surgery, a minimally invasive technique that reduces recovery time and complications while enabling precise, multi-angle access. The involvement of global simulator manufacturers highlights the growing recognition of Korea's expertise in spine surgery.Participants engaged in practical sessions led by Professors Jin-Sung Kim, Sang Hyun Han, and Jung Hoon Kim, which featured cutting-edge Korean medical devices. These included CG MedTech's Anax MIS System, designed for precise pedicle screw placement with minimal tissue disruption, and CGBIO's NOVOSIS, a bone substitute celebrated for its biocompatibility and effectiveness. Also showcased were CGDERM Spinkle, an anti-adhesion agent enhancing surgical safety, and the Excender expandable cage, praised for its innovative design that restores disc height and angle, even in challenging surgical environments."CG MedTech, with CGBIO, is committed to advancing global medical education by sharing innovative surgical methods and premium devices," said Ju Mi Chung, CEO of CG MedTech. "Our mission is to enhance the skills of medical professionals worldwide while strengthening Korea's leadership in this field."The event, hosted by the Catholic University of Korea (International Skills Center), received support from the Ministry of Health and Welfare and the Korea Health Industry Development Institute. The Regional Domestic Medical Device Education and Training Support Center—Korea's first comprehensive training hub for medical devices—played a vital role in bridging government initiatives with industry collaboration.Programs like this firmly establish Korea as a global hub for advanced medical technology and education. The collaboration between CG MedTech, CGBIO, and international institutions reaffirms Korea's commitment to innovation and its leadership in spine surgery education and technology. CG MedTech and CGBIO Showcase Korea’s Spine Surgery Excellence to Global Experts
HONG KONG, Dec. 28, 2024 /PRNewswire/ -- CCSC Technology International Holdings Limited (the "Company" or "CCSC") (Nasdaq: CCTG), a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today announced its unaudited financial results for the first six months of fiscal year 2025 ended September 30, 2024. Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, "The first six months of fiscal year 2025 has been a remarkable period of growth for our Company. We are proud to report a 22.9% increase in revenue compared to the same period last year, while our gross margin remained stable despite a net loss of $0.74 million in a challenging environment. Furthermore, in January 2024, we successfully completed our initial public offering (IPO) and got listed on the Nasdaq Capital Market under the ticker symbol "CCTG". Building on the momentum, we launched a plan in May 2024 to establish a new supply chain management center in Serbia, Central Europe. Once completed, this center will serve as the headquarter of our supply chain operations in Europe to support our operations across the region. As of the date of the report, we have acquired the land plot for our new center and expect to complete this project by the fourth quarter of 2025. Looking forward, we plan to strategically focus on further expanding into high-growth industries, such as new energy, robotics, and medical technologies. By continuing to invest in research and development, we aim to deliver innovative and cost-effective products that meet the evolving needs of our customers. We are committed to delivering high-quality products to our customers and generating long-term value for our shareholders." First Six Months of Fiscal Year 2025 Financial Highlights Revenue increased by 22.9% to $9.2 million for the six months ended September 30, 2024, from $7.5 million for the same period of last year. Gross profit increased by 20.5% to $2.7 million for the six months ended September 30, 2024, from $2.3 million for the same period of last year. Gross profit margin was 29.8% for the six months ended September 30, 2024, compared to 30.4% for the same period of last year. Net loss was $0.7 million for the six months ended September 30, 2024, compared to net income of $0.4 million for the same period of last year. First Six Months of Fiscal Year 2025 Financial Results Revenue Total revenue was $9.2 million for the six months ended September 30, 2024, which increased by 22.9% from $7.5 million for the same period of last year. The following table sets forth revenue by interconnect products: For the six months ended September 30, Change 2024 % 2023 % Amount % (Amounts expressed in U.S. dollars) Cable and wire harness $ 8,604,502 93.3 % $ 6,887,303 91.8 % $ 1,717,199 24.9 % Connectors 613,957 6.7 % 616,217 8.2 % (2,260) (0.4) % Total $ 9,218,459 100.0 % $ 7,503,520 100.0 % $ 1,714,939 22.9 % Revenue generated from cables and wire harnesses increased by 24.9%, to $8.6 million for the six months ended September 30, 2024, from $6.9 million for the same period of last year. Revenue generated from connectors remained essentially unchanged compared to the same period last year. The increase in revenue was primarily attributable to the increase in sales volume and partially offset by the decrease in the average selling price of products. The increase in demand was mainly due to that customers had utilized their inventories previously purchased and increased their orders accordingly. The following table sets forth the disaggregation of revenue by regions: For the six months ended September 30, Change 2024 % 2023 % Amount % (Amounts expressed in U.S. dollars) Europe $ 5,626,272 61.0 % $ 4,336,284 57.8 % $ 1,289,988 29.7 % Asia 2,736,289 29.7 % 2,388,511 31.8 % 347,778 14.6 % Americas 855,847 9.3 % 778,725 10.4 % 77,122 9.9 % Other regions 51 0.0 % - 0.0 % 51 0.0 % Total $ 9,218,459 100 % $ 7,503,520 100 % $ 1,714,939 22.9 % Revenue generated from Europe increased by 29.7%, to $5.6 million for the six months ended September 30, 2024, from $4.3 million for the same period of last year. The increase was primarily due to the increase of sales in Denmark of $1.0 million and Bulgaria of $0.2 million. Revenue generated from Asia increased by 14.6%, to $2.7 million for the six months ended September 30, 2024, from $2.4 million for the same period of last year. The increase was primarily due to sales increases in Hong Kong, China of $0.1 million, and sales increases in the Association of Southeast Asian Nations, or ASEAN, of $0.2 million. Revenue generated from the Americas increased by 9.9%, to $0.9 million for the six months ended September 30, 2024, from $0.8 million for the same period of last year. The increase was primarily due to sales increases in Northern America of $0.08 million. Revenue from other regions was mainly derived from Australia. Cost of Revenue Cost of revenue increased by 23.9%, to $6.5 million for the six months ended September 30, 2024, from $5.2 million for the same period of last year, which was in line with the increase of the total revenue. Inventory costs amounted to $4.4 million for the six months ended September 30, 2024, compared to $3.5 million for the same period of last year. The increase of inventory costs was primarily due to a 47.5% increase in the total sales volume and a 13.6% decrease in the inventory cost per unit. Labor costs amounted to $1.5 million for the six months ended September 30, 2024, compared to $1.2 million for the same period of last year. The increase of labor costs was primarily due to the increase in production volume as a result of an increase in sales volume. Gross Profit and Gross Margin Gross profit increased by 20.5%, to $2.7 million for the six months ended September 30, 2024, from $2.3 million for the same period of last year. Gross profit margin was 29.8% for the six months ended September 30, 2024, compared with 30.4% for the same period of last year. The gross profit margin was basically consistent with the same period of 2023. The Company recruited more workers to cope with the increased sales volume, and the increased labor costs eroded profits, resulting in a decrease in gross profit margin. Operating Expenses Operating expenses increased by 38.5%, to $3.6 million for the six months ended September 30, 2024, from $2.6 million for the same period of last year. The expense increase was mainly due to the increases in the selling expenses of $0.3 million, inclusive of $0.2 million in costs relating to market development and expansion to ASEAN market, and general and administrative expenses of $0.7 million, inclusive of $0.6 million in agent and professional fees for expenses related to compliance requirements as a public company following the IPO in the U.S.. Other Income/(Expenses) Other income/(expenses) decreased by $0.8 million, to other expenses of $0.1 million for the six months ended September 30, 2024, from other income of $0.6 million for the same period of last year, primarily due to the decrease in foreign exchange gain. Income tax benefit Income tax benefit increased by 170.7%, to $0.2 million for the six months ended September 30, 2024, from $0.1 million for the same period of last year, which was due to the loss of CCSC Technology Group for the six months ended September 30, 2024. Net (Loss)/Income Net income decreased by 280.0%, to net loss of $0.7 million for the six months ended September 30, 2024, from net income of $0.4 million for the same period of last year. Basic and Diluted (Loss)/Earnings per Share Basic and diluted loss per share was $0.06 for the six months ended September 30, 2024, compared to basic and diluted earnings per share of $0.04 for the same period of last year. About CCSC Technology International Holdings Limited CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM ("original equipment manufacturer") and ODM ("original design manufacture") interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services ("EMS") companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company's website: http://ir.ccsc-interconnect.com. Forward-Looking Statements Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue", or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. For more information, please contact: CCSC Technology International Holdings LimitedInvestor Relations DepartmentEmail: ir@ccsc-interconnect.com Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: investors@ascent-ir.com CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amount in U.S. dollars, except for number of shares) As of September 30,2024 As of March 31,2024 (Unaudited) Assets Current assets: Cash $ 3,789,806 $ 5,525,430 Restricted cash 209,622 209,317 Accounts receivable 3,256,687 2,750,214 Inventories 1,967,824 2,023,456 Prepaid expenses and other current assets 1,737,454 1,474,405 Total current assets 10,961,393 11,982,822 Non-current assets: Property, plant and equipment, net 681,342 198,901 Intangible asset, net 103,768 38,183 Operating right-of-use assets, net 1,441,593 1,659,297 Finance lease right-of-use asset 15,915 17,788 Deferred tax assets, net 488,190 287,394 Other non-current assets 3,733,073 3,753,646 Total non-current assets 6,463,881 5,955,209 TOTAL ASSETS $ 17,425,274 $ 17,938,031 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 2,567,890 $ 2,175,974 Advance from customers 151,594 207,293 Accrued expenses and other current liabilities 1,333,630 1,523,843 Taxes payable 27,248 24,974 Operating lease liabilities – current 517,985 506,061 Finance lease liabilities – current 4,682 4,454 Total current liabilities 4,603,029 4,442,599 Non-current liabilities: Operating lease liabilities – non current 961,965 1,184,056 Finance lease liabilities – non current 11,739 13,709 Total non – current liabilities 973,704 1,197,765 TOTAL LIABILITIES $ 5,576,733 $ 5,640,364 Commitments and Contingencies — — Shareholders' equity Class A ordinary shares, par value of US$0.0005 per share; 495,000,000 shares authorized,6,581,250 shares issued and outstanding as of September 30, 2024 and March 31, 2024* 3,291 3,291 Class B ordinary shares, par value of US$0.0005 per share; 5,000,000 shares authorized, 5,000,000 shares issued and outstanding as of September 30, 2024 and March 31, 2024* 2,500 2,500 Additional paid-in capital 4,855,795 4,855,795 Statutory reserve 813,235 813,235 Retained earnings 7,747,463 8,491,783 Accumulated other comprehensive loss (1,573,743) (1,868,937) Total shareholders' equity 11,848,541 12,297,667 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,425,274 $ 17,938,031 *Retrospectively reflect the changes in class of shares effective on September 10, 2024 CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE LOSS (Amount in U.S. dollars, except for number of shares) For the six months ended September 30, 2024 2023 Net revenue $ 9,218,459 $ 7,503,520 Cost of revenue (6,470,715) (5,223,159) Gross profit 2,747,744 2,280,361 Operating expenses: Selling expenses (752,926) (473,636) General and administrative expenses (2,468,416) (1,753,179) Research and development expenses (332,155) (338,038) Total operating expenses (3,553,497) (2,564,853) Loss from operations (805,753) (284,492) Other (expenses)/income: Other non-operating (expenses)/income, net (34,766) 51,628 Government subsidies 138,845 - Foreign currency exchange (losses)/gains (241,996) 539,844 Financial and interest expenses, net 7,530 35,783 Total other (expenses)/income (130,387) 627,255 (Loss)/income before income tax expense (936,140) 342,763 Income tax benefit 191,820 70,851 Net (loss)/income (744,320) 413,614 Other comprehensive income/(loss) Foreign currency translation adjustment 295,194 (636,978) Total comprehensive loss $ (449,126) $ (223,364) (Loss)/earnings per share Basic and Diluted $ (0.06) $ 0.04 Weighted average number of ordinary shares Basic and Diluted 11,581,250 10,000,000 CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amount in U.S. dollars, except for number of shares) For the six months ended September 30, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss)/income $ (744,320) $ 413,614 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Inventories write-down 108,257 73,643 Depreciation and amortization 108,167 114,208 Amortization of right-of-use asset 259,582 251,865 Loss from disposal of fixed assets 1,497 595 Deferred tax benefits (191,820) (79,198) Foreign currency exchange losses/(gains) 189,653 (539,844) Changes in operating assets and liabilities: Accounts receivable (479,077) (47,683) Inventories (10,449) 164,072 Prepaid expenses and other current assets (221,742) (223,354) Other non-current assets 54,925 - Accounts payable 336,256 418,473 Advance from customers (56,965) (60,075) Taxes payable 1,453 (4,408) Accrued expenses and other current liabilities (223,442) (39,341) Operating lease liabilities (250,801) (244,763) Financing lease liabilities (2,208) - Net cash (used in)/provided by operating activities (1,121,034) 197,804 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (44,006) (52,025) Purchase of land (539,513) - Purchase of intangible asset (83,346) (19,217) Net cash used in investing activities (666,865) (71,242) CASH FLOWS FORM FINANCING ACTIVITIES Repayments of long-term bank loans - (39,817) Payment for deferred initial public offering costs - (366,094) Capital contribution by shareholder - 5,000 Net cash used in financing activities - (400,911) Effect of exchange rate changes on cash and restricted cash 52,580 (63,670) Net change in cash and restricted cash (1,735,319) (338,019) Cash and restricted cash, beginning of the year 5,734,747 7,717,615 Cash and restricted cash, end of the year $ 3,999,428 $ 7,379,596 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid for income tax $ - $ (39,402) Cash paid for interest $ - $ (228) Cash paid for operating lease $ (287,263) $ (288,667)
BANGKOK, THAILAND - Media OutReach Newswire - 27 December 2024 - The Ministry of Higher Education, Science, Research, and Innovation (MHESI), through the National Innovation Agency (Public Organization) or NIA, is forging ahead to support high-potential Thai startups and SMEs in the medical and health innovation sectors, granting them access to Germany, one of Europe's largest and most significant MedTech markets. As part of the 'Digital Innovation Business Development Programme for Connecting to International Markets and Funding in Europe,' NIA has selected eight outstanding Thai medical and health innovation startups and SMEs that have received prior NIA backing. These companies will showcase their cutting-edge innovations at Medica 2024 in the Federal Republic of Germany. The initiative aims to propel Thai medical innovations to global prominence and establish stronger footholds in the European market. Medica 2024 offers a critical platform for connecting Thai innovators with international opportunities, reinforcing Thailand's reputation as a global leader in medical and health innovation. Dr Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organisation), along with Professor Emeritus Dr Sirirurg Songsivilai, Chairman of the Board of Science, Research, and Innovation Promotion (GSRI), and a delegation of executives and staff from NIA, visited the exhibition booth showcasing the achievements of eight medical and health innovation startups supported by NIA. The visit took place at the Medica 2024 event in the Federal Republic of Germany. Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organization) or NIA, stated that NIA, in its role as a 'Focal Conductor of Innovation,' is dedicated to nurturing and enhancing the capabilities of Thai innovators to achieve sustainable growth. This commitment is guided by the '4G Approach': Groom: Fostering and strengthening the potential of Thai innovators. Grant: Providing financial mechanisms to develop and scale innovative businesses to market readiness. Growth: Accelerating the expansion of both startups and SMEs in the innovation ecosystem. Global: Propelling Thai innovators onto the international stage. Thailand's medical industry, a standout sector, benefits from one of the world's top-ranking healthcare systems. The global MedTech market is projected to soar to 775.8 billion US dollars by 2029, with Germany emerging as a particularly promising market. Germany's long-standing role as host of the world-renowned Medica trade fair for over 40 years underscores its importance. Recognised by experts as the largest medical trade exhibition globally, Medica attracts more than 6,100 exhibitors from 69 countries, solidifying its status as a pivotal platform for the medical and healthcare sectors. Dr Krithpaka added that the NIA is proud to participate in Medica 2024 under the theme 'Meet Health. Future. People,' hosted in the Federal Republic of Germany. As part of this prestigious event, eight outstanding Thai medical and healthcare innovation startups and SMEs, selected through a rigorous process, will showcase their pioneering solutions. These include: Eidy: A large language model (LLM) tailored for medical applications, distinguished by its specialised terminology and physician-like reasoning. It holds potential for developing chatbots designed to address specific medical queries. Ravis Technology: A platform for managing clinical research and data related to biopharmaceuticals, medical devices, and drugs. By leveraging technology to streamline data management, it saves time and costs. Pose Intelligence: A medical equipment management platform for hospitals, providing precise inventory control and central supply management. It reduces redundancy and minimises errors with its efficient systems. SOS Care: An innovative wound dressing made from silk protein combined with carboxymethyl cellulose (CMC) and glycerin. This flexible dressing promotes collagen production, accelerating wound healing. POPOLO: A device designed to band oesophageal varices caused by abnormal blood flow to the liver. This innovation enhances accessibility for Thai patients and reduces mortality rates. Orthopeasia: A cutting-edge platform for designing and producing spinal disc replacements using specialised software. Its innovation simplifies surgical procedures, ensuring smaller incisions, faster operations, and improved convenience for both surgeons and patients. BRE: A revolutionary two-step bathing sheet that eliminates the need for water and soap, providing a practical solution for patients unable to bathe, significantly enhancing their quality of life. Aquatrek Solution: A water treadmill, an advanced hydrotherapy device ideal for reducing the risks associated with exercise, particularly for the elderly. It minimises joint strain while supporting body weight, making it highly effective for rehabilitation and therapy. These eight groundbreaking innovations have garnered considerable interest from partners and potential collaborators across the United States, Europe, and Canada, seeking to exchange technologies and customer bases. Collaborative research opportunities, such as co-publishing with German academics, hosting researcher exchange programmes, or licensing specific or complete production technologies for German manufacturing, could significantly bolster the credibility of Thai medical devices. Research partnerships are a gateway to greater acceptance in the European market. Furthermore, studying attendee and exhibitor profiles at Medica 2024 offers invaluable insights for refining Thai innovations and devising strategic marketing approaches. These initiatives could stimulate investments, foster business matchmaking, and pave the way for cross-border collaborations, driving future advancements in medical innovation. Ms Maleepan Phasupong, from Ravis Technology Co Ltd, a developer of clinical research management platforms, shared her perspective on being selected to participate in the global medical and health innovation showcase Medica 2024. She highlighted that this prestigious event provided invaluable insights into the European market's overall needs, particularly in the realms of digital solutions, health and physical care devices, and diagnostic tools. Beyond helping Thai startups align their innovations with market demands, it serves as a pivotal starting point for achieving real business partnerships. By showcasing Thailand's research strengths, especially to Western countries increasingly interested in collaborative research with Thailand, the event bolstered international recognition. This growing interest is particularly evident in the West, where there is a notable trend towards exploring research partnerships in Thailand. During the event, the company secured discussions with five potential partners and clients, with follow-ups already underway. German STEM researchers, in particular, have expressed interest in exchanges with Thailand to reduce costs associated with services and production within Europe, such as clinical research expenses or medical device manufacturing. This highlights the tangible opportunities created through platforms like Medica, not only for networking but also for fostering deeper international collaboration and reducing operational costs. Mr Thanatpant Manosittisak of SOS Care Co Ltd, developer of silk-protein wound dressings, emphasised that Thai medical and health startups and SMEs have strong potential to thrive in global markets if provided with adequate support in terms of funding, resources, and technological development. He pointed out that Thailand's lower production costs, compared to developed nations, present a competitive advantage. However, government support is crucial to propel these startups and SMEs into forming international collaborations and expanding their market and business networks. Such backing enhances their credibility and strengthens confidence in the quality and innovation of Thai products on the global stage. Mr Thanatpant expressed hope that participating in Medica 2024 would enable his company to secure distributors across Europe, Asia, and the Middle East, thereby driving further international market expansion. Hashtag: #NIA The issuer is solely responsible for the content of this announcement.
TEL AVIV, Israel, Dec. 26, 2024 /PRNewswire/ -- Microtech, a wholly owned subsidiary of Medinol Inc., a leader in global MedTech research and development, announced that it has initiated human clinical trials of their microsensor platform, in a trial to measure atrial pressures important for the treatment of heart failure. The first implantation was recently performed by Prof. Erez Sharoni at Beilinson Medical Center in Petah-Tikva, Israel. The Microtech implantable microsensor platform is the culmination of decades of development in a new class of sensor technology that can be used not only as a stand-alone device but can also be integrated onto any existing device. Due to its sub-millimeter size, it's entirely passive function and the external communication via ultrasound, this technology allows turning existing implants into smart-devices, capable of gathering data and able to perform multiple functions at once. Speaking about the promise of Microtech's sensor platform, Prof. Sharoni, Head of Cardio-Thoracic Surgery, said, "This amazing technology may change the standard of care for patients suffering from Heart Failure and in particular, in this current study, those who are receiving LVADs or heart transplants." The data generated by the implanted sensors will be aggregated and used by Heart Failure specialists to inform clinical decision making for these patients. "Heart Failure is characterized by periods of quiescence, followed by periods of deterioration, which require repeat hospitalizations. This ground-breaking technology will allow us to track patients' parameters in real time, to intervene earlier if needed and to reduce these patients' morbidity and mortality" said Dr. Tuvia Ben-Gal, Head of Heart Failure at Rabin Medical Center. "Incorporating sensors into existing medical devices gives physicians the ability to treat patients based on quantifiable physiological parameters instead of symptoms and is a critical step to growing access to equitable healthcare across the global community. Using a compact home unit, a patient with a Microtech-enabled implant can deliver immediate and highly accurate pressure readings directly to their physician turning geographical distance or mobility challenges into a non-issue" says Dr. Yoram Richter, CEO of Medinol. "This unique ability is transformative for a wide range of clinical scenarios, including patients suffering from Heart Failure, Glaucoma, Hydrocephalous, Portal Hypertension, AAA Endoleaks and many more, providing wider healthcare access and fewer office/hospital visits. Most importantly, from the standpoint of treating clinicians and device manufacturers, sensor-enabled smart-devices will go beyond acute anatomical fixes, extending treatment to lifetime patient care." About Medinol At Medinol, we are aggressively changing paradigms in how disease states are diagnosed and treated. Whether designing cutting edge devices for stenting multiple areas of the body, dramatically reducing complications in Structural Heart procedures or providing real time insights into the physiological metrics of the human body through implantable sensors, we boldly reassess current technology and procedures and look years into the future to pioneer new devices to broaden the reach of physicians both physically and geographically. Working with our physician and industry partners, Medinol is creating the future today. For more information see www.medinol.com or contact Jeff Roach, Chief Commercial Officer at JeffR@medinol.com.
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