China expansionReally looking forward to see how well sales grow in China. Having a partner there on the ground should go a long ways towards opening this huge market to VPT. The market there could be far larger the the US market.
Chinese Partnership and Future Development The Company previously announced (see NR Nov 3, 2015) it had granted an exclusive license to develop and manufacture knowledge-based reconstruction (“KBR”) products in the People’s Republic of China to YuTian Medical Investment based in Shanghai and Yutian Technology located in Ma'anshan. (“Yutian”). Yutian has developed a series of products to specifically meet the demands of the Chinese market based on the KBR technology and has received regulatory approval for the sale of the KBR-based products in China. Billing codes for RV Ultrasound Quantitative Analysis were granted in November of 2019 and the first two sales in China closed in December of 2019. Additional sales are in progress and will be announced as they are completed over the coming months. A point of care device with a KBR technology and an integrated portable ultrasound has already received regulatory approval in China and is gaining traction in the market. Ventripoint will provide engineering support to achieve full automation for quantitative analysis of 2D and 3D cardiac echocardiology images based on Ventripoint’ s KBR approach and the support of the new center of excellence for Artificial Intelligence (AI) in China, Hefei KBR Hi-tech Co. Ltd., located in Hefei, the second largest science city in China. Yutian will manage this project in China and provide hardware and software support through its wholly-owned subsidiary Hefei KBR Hi-tech Co. Ltd.