Singapore, Sept. 13, 2022 (GLOBE NEWSWIRE) --

• AMTH has acquired China’s market-leader in urology and shock wave therapy devices

• Acquisition expands Advanced MedTech’s urological market access in China via a comprehensive nationwide sales & service network and an established local R&D, manufacturing & supply chain ecosystem

• Acquisition provides Advanced MedTech with an emerging markets medical device platform which aligns with China’s local medical device manufacturing strategy. It will serve domestic demand in China, the world’s second largest and fastest growing healthcare market, and supply to other global emerging markets.

Integrated urology leader Advanced MedTech Holdings (AMTH or the Group) announced the acquisition of a majority interest in WIKKON, the Chinese market leader in urology and shock wave therapy devices. AMTH expects to acquire the remaining shares of WIKKON by the end of 2022. Based in the tech hub of Shenzhen, also known as China’s Silicon Valley, WIKKON specializes in the development and manufacturing of solutions to treat urological and orthopedic conditions such as kidney stones, erectile dysfunction and joint, muscle or tissue pain.

Established in 1996, WIKKON has the largest installed base of over 6,000 urology treatment devices in China and strong relationships with healthcare professionals. The acquisition will significantly strengthen AMTH’s direct presence in China.

Combining the German engineering strength of Dornier MedTech, AMTH’s wholly owned subsidiary, with the innovative capabilities of WIKKON, AMTH will be able to offer physicians access to an expanded product portfolio and build up a high potential platform for the development of a global value segment in urology.

With China’s focus on domestic sourcing for key medical devices and its sizeable domestic market, AMTH is well-positioned to serve the expanded needs of the world’s second largest and fastest growing healthcare market with deeper localization of R&D and manufacturing capabilities. WIKKON’s products are in use across more than 40 countries in Asia Pacific and the rest of the world, giving AMTH a strong platform to better serve the needs of global emerging markets from WIKKON’s base in Shenzhen.

Abel Ang, Group Chief Executive of Advanced MedTech, said: “We are now uniquely placed to aggressively grow in China’s sizeable market, which is best served by domestically produced devices. Advanced MedTech’s integrated urology platform is accelerated by WIKKON’s significant R&D, manufacturing, supply chain, and installed base of units. Our newly combined portfolio will allow us to serve urology customers seeking value oriented solutions right through to premium oriented customers globally.”