20th Jul 2015 06:45
LONDON (Alliance News) - Rex Bionics PLC on Monday said it has signed a partnership agreement with Chinese investment and trading company MAAB Group, which focuses on sourcing and introducing medical technologies in the Chinese market.
Rex, which makes the REX Robot technology used to improve the mobility of wheelchair users, said that MAAB will handle the process of applying for regulatory approval for REX Robot in China, along with the sales, marketing and distribution of the product once this approval is secured.
The product launch may happen in the second half of 2016, subject to approval, Rex Bionics said. No financial details were disclosed.
"We are delighted to have entered into this agreement with MAAB, who have a strong team with extensive experience working with international companies, and have access to good local rehabilitation specialists," said Rex Bionics Chief Executive Crispin Simon.
By Sam Unsted; [email protected]; @SamUAtAlliance
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