12.18.14
Medical equipment manufacturer Vasomedical Inc. has received approvals from ANIVSA, Brazil's regulatory agency, to market its Lumenair EECP therapy systems and the Biox ECG Holter and ambulatory blood pressure monitoring systems in the country.
According to the latest World Health Organization (WHO) data, cardiovascular diseases accounted for 31 percent of total deaths in Brazil in 2013 and are the leading cause of death in the country. With a large, aging population, Brazil represents a significant market for Vasomedical’s products for the diagnosis and treatment of heart diseases. While medical device imports still hold a relatively small share of the market, the annual growth percentage rate has been averaged in double digits lately.
"In the last several years we have been actively seeking growth opportunities for our proprietary devices through various venues including clinical conferences and medical device trade shows, and have been meeting with healthcare professionals from Brazil to identify and create business opportunities to meet the market demand there," said President/CEO Dr. Jun Ma. "Receiving ANVISA approvals is a major step in the process of entering Brazil, the largest economy and medical device market in Latin America."
"This untapped territory will enable us to pursue opportunities that we expect will generate additional revenue for the company in the long term. As a result of the approvals, we will be able to organize direct and indirect sales channels and work with the local healthcare community to create awareness and acceptance of our products in both the private and public healthcare sectors in Brazil. We believe this regulatory success will jumpstart our business as we penetrate the South American market," Ma noted.Vasomedical is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products. The company operates through four wholly owned subsidiaries: Vasomedical Solutions, Inc., Vasomedical Global Corp., Vaso Diagnostics, Inc. d.b.a. VasoHealthcare, and VasoHealthcare IT Corp. Vasomedical Solutions manages and coordinates the design, manufacture and sales of EECP Therapy systems and other medical equipment operations; Vasomedical Global operates the company's China-based subsidiaries; VasoHealthcare is the operating subsidiary for the sales representation of GE Healthcare diagnostic imaging products in certain market segments; and VasoHealthcare IT is a national value added reseller of GE Healthcare IT's Radiology PACS (Picture Archiving and Communication System) software solutions and related services, including implementation, management and support.