Acutec Medical-B (06669.HK) and Boston Scientific Group plc Enter into a Memorandum of Understanding to Explore Strategic Collaboration

Intelligent Finance APP, June 15, 2023 - Acotec Medical-B (06669) announced that on June 15, 2023, the company entered into a Memorandum of Understanding with Boston Scientific Group plc. According to the memorandum, Boston Scientific Group plc and the group confirmed their consensus to explore cooperation opportunities in multiple areas, including (but not limited to) research and development, manufacturing, sales, and marketing. The company and Boston Scientific Group intend to leverage each party’s strengths in technology, expertise, experience, and resources to seek cooperation in the following areas, including:

(a) Strengthen R&D in the field of cardiovascular diseases, and develop products for markets such as the United States, China, Japan, and European countries; develop products for treating CTO (chronic total occlusion) lesions, lower extremity arterial stenosis, varicose veins, access maintenance for dialysis patients, and other areas;

(b) Manufacture certain products for another party based on the OEM (Original Equipment Manufacturer) benchmark to achieve cost-effectiveness;

(c) Cross-selling several products or launching several co-branded products in the fields of peripheral, coronary, oncology, urology, and andrology, to maximize the use of channels and enhance product value; and

(d) Support the other party in product registration.

The terms and conditions of the cooperation are subject to further negotiation by the contracting parties and have not been finalized as of the date of this announcement.

Following the completion of the voluntary conditional partial offer in February 2023, BSG became the controlling shareholder of the company. Subsequently, the group has been exploring opportunities for commercial cooperation with the BSC group in research and development, manufacturing, and commercialization to create synergistic value. The signing of the Memorandum of Understanding (MOU) will confirm the consensus between both parties regarding the collaboration.