TEL AVIV, Israel, April 11, 2019 /PRNewswire/ -- Thalys Medical Technology, a leading Chinese healthcare conglomerate listed on the Shanghai Stock Exchange (603716.SS), signed a Memorandum of Understanding (MOU) with iCAN Israel-Cannabis, Israel's leading medical cannabis incubator.
Thalys and iCAN will come together to create a unique partnership to advance the development of early stage incubated companies that focus on the creation of medical technology, agricultural technology and general intellectual property focusing on the medical hemp industry.
"Thalys and iCAN each bring unique strengths to this partnership, which is strategic in every sense. Thalys will help iCAN's portfolio companies enter the world's most populous consumer market. Thalys, which plans to co-invest in iCAN's portfolio investments that address Chinese market needs, will have exclusive cooperation rights on iCAN's incubated start-ups and we will have matching stakes in new investments. I am honoured, humbled and proud to work cooperatively with one of China's leading medical technology companies," said Saul Kaye, CEO of iCAN.
According to the MOU, Thalys will have: access to all early stage companies that iCAN is evaluating for investment, funding for co-investment, and access to the Israeli market. Thalys will have the ability to negotiate exclusive rights with any and all of the incubated companies for the Chinese market.
Yicheng Wen, Thalys' Board Member, stated, "By pairing with a leading medical, agricultural, and technology incubator from Israel, known by many as the 'Start-Up Nation', Thalys advances its mission to serve the Chinese domestic healthcare market through innovation. We are excited to deepen the relationship between Chinese and Israeli entrepreneurs to accelerate the development of China's new medical hemp industry."
Thalys Medical Technology Inc., founded in 2004, is based in Wuhan, China and is a pioneer in integrated medical distribution and technology services. It focuses on an integrated supply chain of medical testing services, research and development, production and sales of proprietary R&D products. In 2017, Thalys expanded the integrated business model, including SPD and Regional Testing Centers. The services are enhanced by proprietary medical information databases and use of overseas core technology products. Thalys Medical Technology Inc supplies products to thousands of hospitals and clients in China. Thalys is a public company on the Shanghai Stock Exchange – Ticker Symbol 603716 (SHA)
iCAN: Israel-Cannabis is building the Global Cannabis Ecosystem. iCAN is committed to accelerate Israel's CannaTechnology industry, capitalizing on Israeli innovation and a leading cannabis regulatory environment to bring premier products to market. iCAN is powered by CannaTech, the premier international cannabis summit held annually in Tel Aviv, and around the world, including London, Sydney, Hong Kong and Panama.
For further information contact Laura Kam, [email protected], +972-54-806-8613
SOURCE Thalys Medical Technology; iCAN: Israel-Cannabis