OCEANSIDE, Calif., Jan. 18, 2019 /PRNewswire/ -- AOTI Inc. announced today that it has entered into a major strategic relationship with a leading Chinese medical company, Nanning Xinzizhu Trading Co.,Ltd, for distribution of its patented Topical Wound Oxygen (TWO2) therapy wound healing products into the People's Republic of China. The multi-year agreement includes minimum sales performance expectations totaling close to $18 million.
Both companies are initially working closely together to achieve National Medical Products Administration (NMPA) registration and approval for the TWO2 therapy product line in China, while in parallel generating market awareness and clinical acceptance of this unique therapy across the country. Following this initial phase and after gaining marketing approval, Nanning will aggressively market the product line nationwide through both its direct sales force and network of regional distribution partners.
"We are delighted to enter into this unique collaboration with such a respected partner that will allow our revolutionary TWO2 therapy to be quickly made available to the millions of Chinese patients suffering with non-healing wounds," stated Dr. Mike Griffiths, President and Chief Executive Officer of AOTI Inc.
With growing prevalence, it is estimated that there are at least 109.6 million adults with diabetes in China already, resulting in over 16 million patients likely suffering from Diabetic Foot Ulcers (DFU) alone. China's healthcare market is growing at an unprecedented CAGR of about 12%. With healthcare spending expected to reach $1 trillion by 2020.
"Our company has been searching for products that can make real impact in healing chronic wounds, such as Diabetic Foot Ulcers, which afflict such a large number of people across China," stated Peter Pan, President and Chief Executive Officer of Nanning Xinzizhu Trading Co.,Ltd. He further commented that, "with our experience in the surgical and wound care sector, combined with our expertise in launching new product across China, we believe we can grow this business opportunity exponentially in the coming years."
AOTI Inc. is a privately owned company based in Oceanside, California USA and Galway, Ireland, that provides innovative solutions to resolve severe and chronic wounds worldwide. Our products reduce healthcare costs and improve the quality of life for patients with these debilitating illnesses. Our patented non-invasive Topical Wound Oxygen (TWO2) therapy is unsurpassed in fully closing Diabetic, Venous and Pressure ulcers alike.
For more information see: www.aotinc.net
About Nanning Xinzizhu Trading Co.,Ltd
Established in 2003, Nanning Xinzizhu Trading Co.,Ltd is specialized in marketing a wide range of medical devices. The company is headquartered in Nanning, Guangxi with further offices across China and also in Singapore. The company's sales network covers over 28 provinces and municipalities, servicing nearly 100 hospitals, to a broad range of specialties that include; Surgery, Radiology, Pediatrics and Operating Theaters. Additionally, the company supplies more than 100 pharmaceutical companies and clinics with medical products.
For more information see: www.gxxzz.com
Dr. Mike Griffiths
CEO and President
(760) 672 1920
SOURCE AOTI Inc