Healthcare Industry News: CarboMedics
News Release - June 27, 2007
Sorin Group and Japan Lifeline Sign Ten-Year Cardiac Rhythm Management (CRM) Partnership Agreement to Boost Market Share in JapanMILAN, Italy & TOKYO--(HSMN NewsFeed)--Sorin (MIL:SRN), Europe's largest cardiovascular medical device group, and Japan Lifeline (JLL), a leading distributor of medical devices based in Tokyo, have signed a ten-year partnership agreement whereby JLL will distribute Sorin's cardiac rhythm management (CRM) devices throughout Japan. The agreement is expected to boost significantly Sorin's market share in that country.
Thanks to the agreement, over two hundred field representatives, coming both from JLL and Sorin's Japanese subsidiary, will distribute Sorin's CRM devices that use the world's latest, innovative technologies. The united sales force -- that will be employed by JLL -- will secure greater penetration in this growing, sophisticated medical technologies market. In 2006, Japan posted over 50,000 pacemaker and more than 3,500 defibrillator implants for a total value in excess of 360 million Euro.
JLL already distributes the Sorin Group's CarboMedics-brand heart valves in Japan. The new partnership agreement will become effective on September 1, 2007.
The partnership comes at a time when Sorin has just received approval for its family of Ovatio ICD devices in Japan. Ovatio is the world's smallest implantable defibrillator and has already had great success in Europe and the U.S. Its outstanding performance is expected to be replicated also in Japan.
"We are certain that JLL is the perfect partner to help us in growing market share in Japan," said Andre-Michel Ballester, President of Sorin's Cardiac Rhythm Management Business Unit. "Our innovative product line and JLL's wide-reaching distribution network are the perfect combination for success in this market. Our new partnership will provide significant benefits for both parties as well as for our customers and patients."
"With over 25 years of experience, JLL has provided the newest and best medical devices to our client base," said Keisuke Suzuki, CEO of Japan Lifeline Co., Ltd. "With the addition of Sorin Group's CRM products and technology, JLL is confident we will continue to provide increased value to the patients and medical facilities we serve. We believe that our professional sales force and expanded product line will enhance the presence of both companies in the Japanese market. Our employees look forward to the increased opportunities that the addition of the Sorin Group's products line will bring."
About the Sorin Group:
The Sorin Group (Bloomberg: SRN.IM; Reuters: SORN.MI), a world leader in the development of medical technologies for cardiac surgery, offers innovative therapies for cardiac rhythm dysfunctions, interventional cardiology and the treatment of chronic kidney diseases. The Sorin Group includes these brands: Dideco, CarboMedics, COBE Cardiovascular, Stockert, Mitroflow, ELA Medical, Sorin Biomedica, Bellco and Bellco-Soludia. It has more than 4,500 employees working at facilities in more than 80 countries throughout the world to serve over 5,000 public and private treatment centers. For more information, please visit: www.sorin.com.
About Japan Lifeline:
JLL was established in 1981 marketing heart pacemakers. Since then, the Group has expanded its product line to include surgical devices and vascular interventional products. JLL is one of a small number of companies that handle instruments used to treat all areas of heart ailments. In 1997, JLL was listed on the JASDAQ and began manufacturing operations in 2001. Currently, the Company is the market leader in the distribution of ablation catheters. The sales force includes more than 250 experienced and knowledgeable cardiovascular representatives who work out of 27 regional sales offices, allowing complete coverage of the nation's medical facilities. For more information, please visit: www.japanlifeline.com.
Source: Sorin Group
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