Boston Scientific, Frankenman Forge Strategic Alliance
Boston Scientific has entered into a strategic alliance with Frankenman Medical Equipment Co. to develop and manufacture endoscopic products in China, the Marlborough, Mass., devicemaker announced Tuesday.
The strategic alliance enables Boston Scientific to take advantage of Frankenman’s entrenchment in the China surgical devices market. The two companies plan to accelerate medical training and implement less invasive procedures.
In China, 1 million bile duct stone removal procedures are performed as open surgeries each year, says Warren Wang, managing director and vice president, Greater China, Boston Scientific. Access to less invasive endoscopic procedures is limited, but this new partnership should provide better outcomes and more cost-effective treatments for patients.
The agreement stipulates that Boston Scientific will become a Frankenman shareholder, providing services and expertise to the company.
Frankenman was established in 2003 and is based in Suzhou China, serving more than 100 hospitals in the country. It operates in Europe, Asia, Latin America and Africa. — Jason Scott