OrbusNeich Enters into Amended Distribution Agreement with Abbott Affiliate to Extend Exclusive U.S. Distribution Rights Through 2027

Zhitong APP News, OrbusNeich (06929) announced that on September 25, 2023, the Group entered into an amendment to the distribution agreement with Cardiovascular Systems, Inc. (CSI), a subsidiary of Abbott Laboratories, under which both parties agreed to extend the term for the Group’s appointment of CSI as the exclusive distributor of the Group's coronary and peripheral balloon products in the United States until December 31, 2027.

The signing of this agreement highlights a closer alliance between the Group and CSI, especially following Abbott's strategic acquisition at the beginning of 2023. Since 2022, the U.S. market has been one of the main drivers of the Group’s revenue growth. The Board believes that, with Abbott's extensive network and strong presence in the U.S., CSI will be able to access more hospitals and cardiac centers across the United States. This collaboration will accelerate the penetration of the Group’s products in the U.S. market, helping the Group achieve continued growth and ultimately creating greater value for shareholders.