PCCS Group and Shenqi Medical Announce Strategic Partnership to Advance Asia-Pacific Cardiovascular MedTech Initiatives

SHANGHAI, Dec. 15, 2020 /PRNewswire/ -- Today, PCCS Group Berhad (hereinafter referred to as "PCCS Group") and Shanghai Shenqi Medical Technology Co., Ltd. (hereinafter referred to as "Shenqi Medical") officially entered into a partnership by signing a strategic cooperation agreement in Shanghai. The two parties will leverage their respective strengths to collaborate on medical devices in the field of cardiology, targeting the Asia-Pacific region. This collaboration also marks a strategic step for PCCS Group in expanding its presence in the healthcare sector.

Mr. Zeng Weiqiang, Group Managing Director of PCCS Group Berhad (left), and Mr. Dai Zhihao, CEO of Shanghai Shenqi Medical Technology Co., Ltd. (right)

Currently, the global incidence of cardiovascular disease remains high, increasingly becoming a major “killer” threatening health and safety. In recent years, pharmaceutical companies, research institutions, and other relevant entities have continuously innovated and developed products and technologies in this field to meet clinical treatment needs. Among these, drug-coated balloons (DCBs) featuring an “intervention without implantation” approach are emerging as the “new favorite” for treating coronary artery stenosis. Unlike traditional treatments, drug-coated balloons can treat coronary stenosis and restore blood flow revascularization without stent implantation, thereby improving long-term patient outcomes. Shenqi Medical has also targeted this blue-ocean market; its independently developed drug-coated balloon became the second domestically produced product to receive approval and certification from the National Medical Products Administration (NMPA). In the early stages of product development, Shenqi Medical collaborated with 11 renowned Grade A tertiary hospitals in China, including Shanghai Ruijin Hospital, Shanghai Zhongshan Hospital, and Beijing Anzhen Hospital, conducting clinical trials involving over 200 cases.

Established in Malaysia in 1973, PCCS Group is a diversified multinational investment holding conglomerate that originated in the textile industry in the 1980s and has since expanded into numerous sectors, including industry, trade, services, and investment. Upholding the corporate philosophy of “people-oriented, sustainable heritage,” the Group remains committed to human health and well-being while developing its existing businesses. It aims to make significant strides in the healthcare and wellness sector through diversified approaches such as investments and strategic partnerships. Through this collaboration with Shenqi Medical, PCCS Group will leverage Singapore and Malaysia as the strategic hubs for its Asia-Pacific operations to lead the strategic execution of its healthcare and wellness blueprint in the region.

“As a high-tech enterprise in the medical device industry, Shenqi Medical has been dedicated to research in the field of high-value consumables since its establishment. We sincerely hope that more patients with cardiovascular diseases will benefit from the innovative products developed by Shenqi Medical. This August, we also completed a Series C financing round worth hundreds of millions of RMB, which will be used for further research and development as well as promoting our existing products in the market.”Mr. Dai Zhihao, Shanghai Shenqi Medical Technology Co., Ltd.He stated, “PCCS Group has been deeply rooted in the Asia-Pacific region for many years, possessing profound insights into numerous markets in the region and significant market influence. We aim to leverage its market influence, network, distribution channels, public relations capabilities, experienced management team, and market intelligence to advance our overseas expansion strategy, enabling medical technologies ‘Created in China’ to reach beyond national borders and benefit patient populations across the Asia-Pacific region and beyond.”

“In recent years, China’s medical and healthcare technology has developed rapidly. We are highly optimistic about its ever-advancing scientific research capabilities and have been actively seeking outstanding corporate partners for collaboration. Shenqi Medical’s core corporate values and strong R&D innovation capabilities align perfectly with our corporate development philosophy and strategic layout. We are honored to engage in in-depth cooperation with such an enterprise, jointly expanding the market reach for our product applications.”Mr. Zeng Weiqiang, PCCS Group BerhadAt the signing ceremony, he stated, “As a diversified international trade and investment company, PCCS Group aims to create a better world through investment. We are also pleased to serve as a bridge for trade between China and the Asia-Pacific region, supporting Chinese enterprises in their global expansion to achieve mutual benefit and win-win outcomes, and leveraging China’s advanced medical products and technologies to help more people.”

This collaboration marks not only the first step in PCCS Group’s strategic layout to establish a presence in the healthcare industry, but also a strong start to its long-term strategic partnership with Shenqi Medical. In the future, both parties will continue to delve deeper into the broad healthcare sector, engage in more diversified and in-depth cooperation, jointly explore cutting-edge technological applications in the industry, and promote the improvement of public health standards.

PCCS Group (Malaysia)) Group Co., Ltd.

PCCS Group, established in 1973, is a diversified multinational investment holding conglomerate that originated in the textile industry in the 1980s and has since expanded into numerous sectors, including industry, trade, services, and investment. For over four decades, PCCS Group has consistently upheld its corporate culture of “People-Oriented, Sustainable Heritage,” thereby forging a diversified development path transitioning from factor-driven growth to value creation, and from processing and manufacturing to independent innovation. The Group’s current mission and vision are “to let investment create a better world and to build a win-win platform for stakeholders.” Listed on the Main Board of Bursa Malaysia in Kuala Lumpur in 1995, PCCS Group employs more than 4,000 staff members and comprises over 20 wholly-owned and controlled subsidiaries, many of which are recognized as national-level high-tech enterprises and adhere to international standards.

Shanghai Shenqi Medical Technology Co., Ltd.

Shenqi Medical, established in September 2014, is a high-tech enterprise specializing in the research and development, manufacturing, and sales of medical devices. Adhering to the philosophy of “Innovation, Heart Care,” Shenqi Medical focuses on the field of high-value consumables, with its product portfolio covering three major segments: cardiovascular intervention, peripheral vascular intervention, and structural heart disease. Over the past six years, Shenqi Medical has successfully developed multiple interventional products, including detachable fibered coil embolization systems, peripheral microcatheters, distal access guide catheters, drug-coated coronary balloon catheters, and left atrial appendage occluders. Notably, the drug-coated coronary balloon catheter received registration approval from the National Medical Products Administration (NMPA) in December 2019. Additionally, Shenqi Medical has a pipeline of products under development that are scheduled for gradual launch in the coming year. In August this year, Shenqi Medical completed a Series C financing round amounting to hundreds of millions of RMB, led by Hillhouse Capital and Jefferies Capital. The funds raised will primarily be used for further R&D and market promotion of existing products, as well as advancing new projects, such as the research and clinical trials of valve-related products. Furthermore, the company aims to expand the depth and breadth of its product line through strategic acquisitions.