Montrose, CO (PRWEB) March 30, 2005
Summa Design, contract design firm focused on the medical device industry, today announced the opening of their new Far East Operations office in Shanghai, China. The new office extends Summa DesignÂs reach into the rapidly expanding Chinese market.
ÂWe are excited to be able to leverage Summa DesignÂs unique expertise to launch several new initiatives in the largest untapped market in the world,Â said Jon Ferris, President & CEO of Summa Design. ÂDemand for better medical equipment is driving the Chinese market and will increase as the country modernizes to provide healthcare to a population of nearly 1.3 billion people. Our new office will act as a liaison between Chinese medical device companies and their U.S.-based counterparts. We will be facilitating introduction of U.S. devices into Chinese distribution and also helping Chinese medical device companies introduce their products into the U.S. and European markets.Â
With one of the fastest growth rates in the world, the Chinese medical equipment market was estimated at $10.6 billion in 2003 and growing at 15% per year. China has more than 300,000 health institutions countrywide including more than 60,000 hospitals.
"Standard of living as well as the elderly population continues to increase steadily in China. Chinese government reforms are aimed at promoting better access to basic health care through increasingly open markets for foreign devices," noted Mr. Ferris. "Our staff in China will be working closely with the State Drug Administration of China on importation and registration of new U.S. devices being introduced.Â
Summa Design is a privately-held company based in Colorado. Their clientele includes medical device companies in need of engineering resources and includes large, established companies as well as small start-ups. The company provides an unparalleled range of services in the industry, including engineering design and development services, marketing, sales, distribution, and FDA and international regulatory consulting. Summa Design is the first contract design firm to offer an industry-leading ÂVC Partner ProgramÂ©Â, which promotes relationships with venture capital companies and allows Summa Design to introduce start-up clients to funding sources.
Visit their website at http://www.summa-design.com for more information.
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