Ventripoint Diagnostics (TSXV: VPT) this morning issued a brief press release related to its joint venture based in China. The venture partner, Yutian Medical Shanghai, has indicated a successfully engagement with key leaders within the echocardiography sector in China, as well as the first sales in the country.
The announcement follows training sessions for the ventures QAS VMS systems that were conducted in the country for more than 60 echocardiologists. Organized by the China Medical Association’s intensive care division, the program was offered by a leading university hospital in the country.
In addition to the training session, and perhaps more importantly, the company indicated that Yutian has secured significant distribution agreements. To date the venture has appointed several tier-1 distributors throughout the country, with minimum sales targets in aggregate amounting to approximately C$6.0 million for 2021. This figure is expected to continue to grow as the firms distribution expands in the country, with the first commercial sale to a tier-1 hospital also being recorded in the country. Details of the transaction were not provided.
Ventripoint Diagnostics last traded at $0.435 on the TSX Venture.
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