Shanghai, September 15, 2023 — Nanos Medical (Shanghai) Co., LTD. (hereinafter referred to as Nanos Medical), a leader of full-range ENT medical device solutions in China, announced her strategic cooperation with Zhuhai Vision Medical Technology Co., Ltd. (hereinafter referred to as Zhuhai Mindsion), a leader of intelligent endoscopic technology in China. Both parties plan to jointly develop ENT electronic flexible endoscopes and accelerate the domestic substitution of ENT electronic flexible endoscope by leveraging their complementary R&D and production capabilities, clinical awareness, and commercial promotion capabilities.

Teng Cui

Founder and Chairman of Nanos Medical

“This cooperation will take us a step further towards our goal of achieving full range expertise of diagnosis and treatment in ENT. Entering into this cooperation will not only accelerate our commercializing advancement for ENT electronic flexible endoscopes, but also provide physicians and patients with domestic flexible endoscopes that are safer, cost-effective, and more suitable for clinical needs. As the two teams share solid foundation for cooperation and trust, I firmly believe that, through joint efforts, we can further bolster the independent innovation and high-quality development of the medical device industry in China.”

Tianbao Li

Founder and Chairman of Zhuhai Mindsion

“I am full of expectations for this promising cooperation. Zhuhai Mindsion has worked diligently in the field of endoscope for many years, having accumulated rich R&D experience and forged a sound technological foundation. Through this in-depth cooperation, resources and advantages of both parties will be fully taken advantage of, thus creating domestic products that are more suitable for clinical needs to benefit more patients.”

As per Frost & Sullivan statistics, the market value of endoscopes in China reached RMB 22.51 billion in 2019, and is expected to reach RMB 42.27 billion by 2024 1. Despite such a huge market potential, there exist very high technological barriers and higher market concentration in endoscope industry, with the market being dominated by foreign brands for a long time. In response to this situation, China adopted a series of policies to encourage medical device innovation and support domestic substitution. Presently, Nanos Medical has created the “4+2” development mode that includes plasma surgery systems, surgical power systems, medical endoscopic camera systems, surgical instruments, and intervention consumables, etc. This cooperation will expand the product base of the endoscopic camera systems of Nanos Medical, further enrich the company’s endoscope pipeline. Zhuhai Mindsion is dedicated to R&D, manufacturing, and operation of electronic endoscopes, possessing multiple products such as the world’s first-of-its-kind wireless electronic endoscope, ergonomic fingerprint endoscope, and portable endoscope. This cooperation will also facilitate Zhuhai Mindsion’s commercial promotion and product improvement.

Nanos Medical

About Nanos Medical (Shanghai) Co., LTD.

Nanos Medical (Shanghai) Co., LTD is a medical technology company dedicated to providing a full range of medical device solutions for otorhinolaryngology. Founded in 2015, the company is headquartered in Shanghai. In 2017, it established a R&D and manufacturing base for high-value consumables in Suzhou Hi-tech Industrial Park for Medical Devices, and in 2019, it merged with Chengdu Mechan, a leading medical plasma technology platform in China. In September 2021, it took a controlling stake in Hangzhou Tonglu Sike Medical Instrument Co., Ltd., a leading domestic manufacturer of ENT and head and neck surgical devices, and in December of the same year, it wholly acquired Endodoctor, a German provider of high-end rigid endoscope. In 2022, Nanos Medical officially changed its name to Nanos Medical (Shanghai) Co., LTD. In December of the same year, Guizhou Zirui Technology Co., Ltd., a Chinese vendor of advanced surgical power systems, officially joined Nanos Medical. Now, the company has more than 500 employees and set up subsidiaries and offices in Shanghai, Chengdu, Suzhou and Germany.

Nanos Medical is also highly capable and specialized in commercial transformation and has actively introduced state-of-art foreign medical equipment and technologies, such as Mega ENT Examination and Diagnosis Unit from Korea and Chordate Rhinitis Treatment Instrument from Sweden, so that new products and therapies can continuously enter into Chinese market to serve Chinese patients.

Nanos Medical occupies a pioneering position in the domestic ENT diagnosis and treatment market, with main products including Plasma Surgery System, Surgical Power System, Medical Endoscopic Camera System, Surgical Instrument, Eustachian Tube Balloon, Sinus Balloon Catheter, Disposable Nasopharyngeal Airway, etc. The diagnosis and treatment products, services and clinical procedures provided by the Company can benefit more than 300 million ENT patients and contribute to the buildup of expertise and professional discipline for head and neck surgeries in over 2,000 ENT at home and abroad.

Zhuhai Mindsion

About Zhuhai Vision Medical Technology Co., Ltd

Zhuhai Vision Medical Technology Co., Ltd. adheres to its business mission of letting technology brings us health, and focuses on the development of visualization medical endoscopy.

As early as 2008, Mr. Tianbao Li, founder of the company, began his in-depth research and development in endoscope industry. For more than a decade, he has led his team to break through a number of technical difficulties and obtained nearly 80 patents. Since the company’s establishment in 2016, Mindsion’s electronic endoscopes have served hundreds of thousands of users at home and abroad. Its products are sold to over 40 countries and regions around the world, featuring 3 industry-leading technologies: the first wireless electronic endoscope, the first ergonomic fingerprint endoscope, and the first NMPA cleared pediatric endoscope. At present, there are 9 series and 74 models of reusable and disposable endoscopes, with clinical applications covering such clinical departments as otolaryngology, respiratory, critical care, anesthesia, emergency, and urology, etc. Mindsion’s elite products are highly praised by numerous peer experts both at home and abroad.

Mindsion is committed to technological innovation to provide physicians with ultimate tools and provide refined services to help build a healthier world. In the future, the company will dedicate itself to the business of visualization, precise navigation, AI-assisted diagnosis for the reusable and disposable endoscopes, making available China’s contribution to improving the quality of global healthcare services.

Reference

1. Frost & Sullivan, Chinese Endoscopes Market Investigation Report, June 2020