Galway med tech firm ArraVasc wins multi-million euro contract in China
25th June 2014
Med tech firm ArraVasc Ltd., based in Galway, has signed a new contract with a leading medical device distributor Shanghai Micro Medical, based in Shanghai, China. The announcement was made during the Enterprise Ireland Trade and Investment Mission to China led by Minister for Jobs, Enterprise and Innovation Richard Bruton TD.
Back row - HE Paul Kavanagh Irish Ambassador to China, Minister for Jobs, Enterprise and Innovation Mr Richard Bruton TD, Kevin Sherry, Enterprise Ireland Director International sales and partnering, Austin Gormley Irish Consulate General Shangha. Front Row - Jonathan Akehurst, ArraVasc, Mr Tony Liu, President Shanghai Micro medical Devices Co., Ltd
ArraVasc CEO Jonathan Akehurst commented: “We are delighted to be working with our distribution partners here in Shanghai – this contract is worth at least $3.5m of business for new peripheral vascular products and is an important part of our global expansion which is planned to create at least 20 new jobs over the next 2-3 years”.
Speaking from Shanghai, Minister Bruton said: "At the heart of our Action Plan for Jobs is the development of a powerful engine of Irish enterprise alongside the strong base of multinational companies we have in Ireland. ArraVasc is a great example of what we are aiming to support - here is an Irish company, operating in a sector of traditional strength for Ireland, manufacturing products to the highest international standards, winning new contracts in fast-growing foreign markets, and creating jobs in Ireland. Today's announcement of a multi-million euro deal with Shanghai Micro Medical, which will result in the creation of 20 new jobs, is very welcome and represents a great achievement for ArraVasc. I wish them every success on this project".
ArraVasc is the new name for Cappella Medical Devices Ltd, which has been based in Galway, Ireland since 2007.
For further Press information please contact Jonathan Akehurst, CEO, ArraVasc M: +353 (0)86 0430375
About ArraVasc Ltd.
ArraVasc is the new name for Cappella Medical Devices Ltd, which has been based in Galway, Ireland since 2007 – it was originally set up as a Research & Development business, working on coronary stent & access technologies. The Sideguard Coronary Stent received CE Mark approval for coronary bifurcation treatment in 2009 – with an innovative stent design and patented delivery system, developed by our leading team of engineers.
ArraVasc has since developed a number of new techniques around catheter and balloon manufacturing, allowing us to expand into the fast growing peripheral vascular market – we received the CE Mark approval for Pirouette PTA Balloon earlier in 2014 and we are developing an extensive pipeline of novel peripheral vascular products.
All design, research & manufacturing takes place in Galway and we currently employ a team of 36 skilled designers, engineers & product builders as well as our Regulatory & Quality departments
About Shanghai Micro Medical Devices Co. Ltd.
Founded in 2000, Shanghai Micro Medical Devices Co. Ltd. has been dedicating into providing total solution for intervention to Chinese customers.
On demand of booming market of intervention in China, Micro Medical have created innovative product portfolio composed with competitive product imported from the US and EU.
As an exclusive distributor for many international suppliers of medical device, Micro Medical has been focusing on business areas as below:
- Peripheral Vascular
- Oncology Intervention
- Neurovascular intervention
- Vascular Access
With headquarter in No.31 Lane 1688 Lianhang Road Shanghai, Micro Medical has established a widespread distribution network combined with direct sales offices located in Beijing, Shanghai and Guangzhou, with products penetrated in interventional divisions of most hospitals all over China.