CytoSorbents Expands Distribution to Taiwan

http://seekingalpha.com/pr/10667595-cytosorbents-expands-dis…

CytoSorbents Expands Distribution to Taiwan

CTSO announced distribution of its CytoSorb extracorporeal cytokine adsorber in Taiwan through an exclusive agreement with Hemoscien. This multi-year agreement is subject to annual minimum guaranteed orders of CytoSorb to maintain exclusivity.

The General Manager of Hemoscien commented, "We are very excited to add CytoSorb to our portfolio of extracorporeal, critical care therapies. Sepsis is a large and growing challenge in Taiwan….In addition, physicians have expressed a strong interest in using CytoSorb to treat other typical conditions in the intensive care unit including trauma, burns, severe lung inflammation, and liver failure.

The CEO of CTSO stated, "We are pleased to be working with such an established and well-respected organization as Hemoscien. Hemoscien has been very successful in the Taiwan critical care market and understands how to introduce and promote innovative extracorporeal therapies like CytoSorb.

CTSO’s VP of Business Development added, “With its universal access to high quality healthcare and advances in medical technology, Taiwan represents an excellent opportunity for CytoSorbents. In addition, we view Taiwan as a first step towards establishing a broader presence in the Asia-Pacific and China markets. We are delighted to be working with Hemoscien and look forward to expanding our presence in this region.”

Taiwan is an island nation located off of the coast of mainland China. Taiwan spends approximately $29 billion annually on healthcare and offers universal coverage to its people through its National Health Insurance System. There are over 200 major medical centers and regional hospitals serving an estimated population of 23 million people. With rising medical standards, use of advanced technology to increase administrative and provider efficiency, and access to high quality healthcare, Taiwan boasts one of the most progressive healthcare systems in the world. Like many other parts of the world, sepsis is a major problem in Taiwan. With over 120,000 estimated new cases of severe sepsis reported each year and mortality rates as high as 30-50%, sepsis is the eleventh leading cause of death in the Taiwan.

Established in 2005, Hemoscien is a leading supplier of medical equipment and disposables for renal and critical care applications in Taiwan. Headquartered in Taipei, Hemoscien promotes a wide range of extracorporeal therapies including blood purification equipment, hemofilters, plasmafilters, and other devices for separating and filtering blood.