Singapore-Based Innovative Biomedical Start-Up Achieves 'Strategic Triumph' to Conquer Chinese Med-Tech Market

With the product approval now achieved in China, labelled by German news platform 'Pressefeuer' a 'strategic triumph' that could revolutionize the world of biomedical engineering and is a decisive step for the Hanover-based company', Syntellix has achieved its most important strategic and operational goal. The strategic decision to develop the prioritized core markets of China, India, and ASEAN through Syntellix Asia Pte Ltd in Singapore, and to locate and expand the main production site in the ultra-modern and highly efficient island nation of Singapore, has proven to be both expedient and entirely correct. Establishing an Asia-centric production chain was strategically and operationally the right decision, as the production and sales hub in Singapore can supply and serve most of the world better and faster than from Germany or Europe. More than 3.5 billion people live in China, India, and the ASEAN region alone, which is more than 40 times the population of the Federal Republic of…

With the product approval now achieved in China, labelled by German news platform 'Pressefeuer' a 'strategic triumph' that could revolutionize the world of biomedical engineering and is a decisive step for the Hanover-based company', Syntellix has achieved its most important strategic and operational goal. The strategic decision to develop the prioritized core markets of China, India, and ASEAN through Syntellix Asia Pte Ltd in Singapore, and to locate and expand the main production site in the ultra-modern and highly efficient island nation of Singapore, has proven to be both expedient and entirely correct. Establishing an Asia-centric production chain was strategically and operationally the right decision, as the production and sales hub in Singapore can supply and serve most of the world better and faster than from Germany or Europe. More than 3.5 billion people live in China, India, and the ASEAN region alone, which is more than 40 times the population of the Federal Republic of Germany, while at the same time experiencing significantly greater dynamics in terms of population growth, market growth, and economic power and perspectives.

For this purpose – establishing and expanding production in Singapore, tapping into the South Asian, Southeast Asian, and East Asian markets, and obtaining the necessary product approvals, particularly in China, – Syntellix, CEO Professor, Dr Utz Claassen, who is also Executive Chairman & CEO of Syntellix Asia Pte Ltd in Singapore, relocated his residence from Germany to Singapore more than five years ago in consultation and coordination with the Supervisory Board of Syntellix AG.

Syntellix CEO Professor Utz Claassen thus commented very positively on the product approval now achieved in China: "After more than 17 years of work and more than 7 years of focusing on China alone, we have achieved what almost everyone considered impossible. As a startup from Hanover with ist operational heart in Singapore, we have written a pioneering story worldwide, whose global medical success is now unstoppable. Those who win in China are strategically and operationally ideally positioned. The largest hospitals in China individually have higher patient volumes and more operations for our highly innovative products than most countries in the European Union. Without neglecting our homeland, we are proud and grateful to now be able to use our products, which are so beneficial for patients, users, and the healthcare system, in China, with its 5,000 years of cultural history, its magnificent medical tradition, and its unique future prospects. This is a game changer for our company, both qualitatively and quantitatively."

Claassen emphasizes both the abstract and concrete positive conditions for the successful development of Syntellix' activities in Asia, and also specifically in Singapore, and he is grateful for the very positive environment here: "I would like to expressly thank our outstanding Chinese partners for their tremendous support and cooperation, and the NMPA for an outstandingly differentiated and structured approval process. I would also like to sincerely thank the Singapore Economic Development Board (EDB) for its far-sighted contribution to the operational and structural foundation of our rollout in Asia by providing expertise and financial support for the establishment and expansion of our production facility in Singapore, which will now also become an Asia-wide and global sales hub as planned. This will create many attractive jobs in Singapore and set new international standards in biomedical engineering under market conditions that are not found in Germany or Europe, and building on government funding from the Republic of Singapore."

Syntellix AG, as a joint-stock company under German stockholding law already a public company, also targets an IPO on the Singapore Exchange (SGX), the preparations of which have already been ongoing for several years with the help of Singaporean banks and law firms, well supported by SGX management under the leadership of its CEO Mr Loh Boon Chye and coordinated by Ms Alice Gwee.

About Syntellix:

Syntellix AG, a global pioneer in biomedical engineering, materials, and life sciences, is the only company in the world with approvals for bioabsorbable metallic implants in more than 70 countries on five continents, tens of thousands of successful surgeries, and the highest level of patient satisfaction. Syntellix is a global protagonist and market and technology leader in the field of bioabsorbable metallic orthopaedic implants. The company has received numerous prestigious awards and prizes, including the Innovation Award of the German Economy, the German Healthcare Industry Future Award, the German Medical Award, the STEP Award, the "Innovator of the Year" award, the German Innovation Award in Gold, and the Sustainability Award as "Product of the Year." More than 50 medical and scientific publications have meanwhile documented the safety, efficacy, and reliability of the MAGNEZIX® implants developed by Syntellix, which have been described as "advantageous" and even "clinically superior" to conventional titanium implants for numerous clinical applications.

Syntellix Asia Pte Ltd in Singapore is a wholly-owned subsidiary of Syntellix AG. It is the operational heart of the group. The manufacturing facility for the highly innovative MAGNEZIX® implants is located in Singapore, in JTC's Biomedical Park in Tuas. Syntellix Asia Pte Ltd, which in turn has the subsidiaries Syntellix China Pte Ltd, Syntellix Philippines Incorporated in San Juan City, and Syntellix India Private Limited in New Delhi and Jaipur, Rajasthan, serves not only the internationally leading medical hub of Singapore itself with its numerous world-class hospitals, but also major markets in countries throughout the ASEAN region, including Thailand, Malaysia, Vietnam, and Indonesia."

Contact:
T +49 511 270 413 50
F +49 511 270 413 79
[email protected]
www.syntellix.com 

 

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