Vycor Medical and Devon Medical Looking to Bring VBAS to China Market

Vycor Medical, Inc has begun the process for State Food and Drug Administration (SFDA) registration in the People’s Republic of China (PRC) to jointly distribute along with partner, Devon Medical, Vycor’s VBAS (ViewSite™ Brain Access System)in China and South Korea. This new retraction device, which has been designed to reduce tissue trauma while allowing surgeons to see surrounding tissue during procedures in various brain regions, is said to require less retractor repositioning bringing possible benefits of speedier recovery, more precise surgeries, and lower costs.

"Devon Medical believes that the Chinese medical device market is poised to explode, as government entities have embarked on an aggressive, large-scale healthcare reform plan focused on improving patient care," said Dr John A Bennett, CEO of Devon Medical.

The PRC government plans to spend $125 billion USD in addition to normal healthcare budget allocations over the next three years to implement a healthcare reform plan, according to multiple sources. According to the China Business Review, sources in China estimated the size of the country’s medical device market at $8-$10 billion USD in 2008, and believe the market could grow to $16 billion USD by the end of this year.

"We have received very positive feedback on the utility of VBAS from surgeons in the United States,and we are excited to expand the device’s use to help physicians and patients in other countries," says Kenneth T. Coviello, CEO of Vycor. "The need and potential for VBAS in China was immediately recognised by Dr Bennett and Devon Medical. His team has already showed its expertise in the Chinese regulatory and marketing arenas, and we look forward to leveraging their industry experience as we enhance brain and spinal surgery capabilities. Devon Medical has met with top hospitals in China, including Beijing Tiantan Hospital, Shanghai Huashan Hospital, and the Hunan Xiangya Hospital System. These hospitals combined perform over 30,000 craniotomies annually, according to hospital officials.