Time： 2020-04-19 13:08:48
Global Demand for Ventilators and Disposable Products Surges, Vincent Medical Supports Demand from European and US Business Partners through Capacity Expansion
(Hong Kong-March 24, 2020)-Vincent Medical Holding Co., Ltd. ("Vincent Medical" or "the Company") together with its subsidiaries are collectively referred to as "the Group" with a stock code of 1612HK. It is announced that in view of the continuous increase in demand for major medical respiratory related devices and disposable consumables in the European and US markets, the Group is currently trying its best to expand its production capacity to enhance the production capacity of its aspired brand heated humidifier (VHB200), O2FLO respirators and a series of disposable products (respirators, respiratory circuits, humidification tanks) to cope with the severe new coronavirus pandemic.
As OEM (Original Equipment Manufacturing) partners of several major ventilator enterprises in the world, the Group is working closely with them while enhancing its production capacity of aspired8 respiratory products and participating in multi-country project bidding in Europe. Through increasing the production capacity of respiratory circuits, respiratory used source devices and other disposable products, the Group is trying its best to meet the needs of domestic and other parts of the world. Facing the rapid increase in global demand for respirators, Venter Life Systems,nc, a multi-functional life-support ventilator enterprise located in the United States (the Group has been responsible for providing disposable respiratory circuits and accessories since 2017), has also increased its production of VOCSN respirators with the support of the US Garden Government and General Motors to alleviate the serious shortage of hospital-level respirators in the United States. In addition, the Group is also trying its best to increase the output of another product, Ventway Sparrow, which is a portable ventilator suitable for first aid and patient transport.
In order to ensure product quality and staff safety, the Group has implemented a series of additional measures in its domestic production plants to provide a safe working environment for its more than 1,200 employees. The Group will continue to maintain close communication with local governments to strike a balance between the safety of employees and the timely delivery of products.
Mr. Cai Wencheng, Chairman of Vincent Medical, said: "the current situation is developing rapidly. our entire team is closely monitoring the development of the epidemic situation and is actively maintaining close communication with various business partners and customers, hoping to provide them with corresponding products and services in the shortest possible time. due to the tight supply of respirators in the world, we see that the market demand is gradually shifting to high-flow oxygen therapy devices suitable for patients with non-severe 2019 coronavirus diseases. We are gradually increasing our stock of O2FLO and O2B to meet the increased demand for high-flow oxygen therapy. "
Chairman Cai added: "I am very grateful to the employees for their selfless dedication. although they have been working tirelessly to increase production and replenish inventories since January despite the disruption of the raw material supply chain, we will shoulder the mission of being a major manufacturer of medical products and do our best to provide patients with appropriate medical devices."
Vincent Medical will pay close attention to the development of the situation. If there is any significant development in its business, it will disclose it to the market in a timely manner.