Lifetech Scientific

History

2017: Release of pacemakers with technologies of Medtronic

On December 25, 2017 Chinese corporation Lifetech Scientific Corp. announced that the Chinese Food and Drug Administration (CFDA) approved sale of five models of a pacemaker of HeartTone which will be manufactured in China. The release of the first commercial implant of HeartTone is expected by July, 2018.

The Medtronic company which not only owns 25% of Lifetech Scientific corporation will be engaged in distribution of the made pacemakers, but also provided the technologies used by Lifetech in development and production of the first line of the pacemakers corresponding to the Chinese laws.

Office Medtronic in China

The CEO of Medtronic Omar Ishrak reported the following:

The Chinese market probably at some point in the future will become the largest market in the field of medical technologies. We intend to cooperate with a circle of interested persons, and are sure that we will be able to continue our work on increase in two-digit indicators of growth of revenue there.

However potentialities for the western medico-technology companies in China is complicated by obstacles at removal of the products on the market.

It is said in the statement of Lifetech Scientific that as the Chinese producers have no main technology and the corresponding experience in the industry, in the past only the international companies provided pacemakers to the Chinese doctors and patients. Production of a pacemaker HeartTone in China will make Lifetech the first Chinese producer of the implanted systems of cardiostimulation with technologies and characteristics of a world class — which are provided by Medtronic.

Lifetech did not publish the price of HeartTone pacemakers, on December 18, 2017 about approval of CFDA was only noted in the statement that the company is going to do "safe, reliable and cost-efficient pacemakers of domestic production".^[1]

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