HONG KONG, Oct. 30, 2019 /PRNewswire/ -- Huakang Biomedical Holdings Company Limited ("Huakang Biomedical", the "Group", HKSE：08622) is pleased to announce that Huakang Biomedical Company Limited ("Huakang HK"), a direct wholly-owned subsidiary of the Group, entered into a Memorandum of Understanding (MOU) with a Joint Venture Partner in relation to the establishment of the Joint Venture Company in Hong Kong for the research, development and registration of technology, devices and products for assisted reproductive treatment (ART) in the PRC; and the sale and export of devices and products in the PRC, countries in Asia Pacific Region and other territories.
Based in Australia, the Joint Venture Partner Group has over 30 years of experience in the field of fertility treatments and is one of Australia's leading fertility groups offering fully integrated assisted reproductive treatment and clinical services as well as devices and products applied with technologies in assisted reproduction treatment.
The MOU was entered against the background of the rising per capita income as well as the increasing prevalence of infertility in the cities of PRC. Likewise, the policies of PRC Government favour the growth of the ART market. In the light of these favourable factors, Huakang Biomedical hopes to form strategic alliance with oversea leading fertility group to create synergy along the supply chain of the ART market.
Mr. Michael Poon, Chief Financial Officer and Executive Director of Huakang Biomedical, said, "We are so glad that we have a world leading fertility group as our prospective Joint Venture Partner. They are in possession of many world leading licenses for ART technology. We are looking forward to bringing those technologies into the PRC market, and to further marketize those technologies via our expertise as well as our well-established sales channel in the PRC. Looking ahead, Huakang Biomedical may also take this opportunity to globalize our business."
About Huakang Biomedical Holdings Company Limited
Huakang Biomedical Holdings Company Limited is a company mainly engaged in the manufacturing and sale of in-vitro diagnostic (IVD) reagents. The IVD reagents include male fertility IVD reagents, Epstein-Barr virus antibody detection reagents ad parasite antibody detection reagents, among others. The male fertility IVD reagents include sperm function test products, accessory genital glands test products, anti-sperm antibody test products, as well as male reproductive tract infection test products, among others. In addition, the Company is also involved in the sale of auxiliary reproductive supplies and equipments, such as glass coverslips and sperm sample collection cups.
About the Joint Venture Partner Group
Based in Australia, the Joint Venture Partner Group has over 30 years of experience in the field of fertility treatments and is one of Australia's leading fertility groups offering fully integrated assisted reproductive treatment and clinical services as well as devices and products applied with technologies in assisted reproduction treatment.
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