5 Key Points on Life Spine Entering the Chinese Market

Laura Dyrda -   Print  |

Life Spine, a Hoffman Estates, Ill.-based spine device company, has entered into the China market.

Here are five things to know about Life Spine and its recent entry into a new international market.

1. The company partnered with China Pioneer Pharma Holdings to enter into the China market. China Pioneer Pharma Holdings is based in Shanghai and sells to more than 23,000 hospitals in the country. There are also more than 1,000 dedicated sales representatives to China Pioneer Pharma Holdings.

 

2. China Pioneer Pharma Holdings Limited recently underwent its initial public offering on the Hong Kong Stock Exchange and currently has a market capitalization of more than $700 million. "We are very excited to have the expertise of Pioneer behind us as we begin selling into the largest orthopedic growth market in the world," said Vice President of International Sales and Business Development at Life Spine Rick Greiber. "With a broad base of highly trained representatives and a strong management team, Pioneer is a great partner for Life Spine's future growth in China."

 

3. Last year, Life Spine received three patents for expandable interbody technology as well as the FDA clearance for IRIS Anterior Cervical Plate System and placed the Lateral Solution Systems on limited release. The company has 49 patents, with the most resent translating into the ProLift Expandable Spacer System, designed for keyhole insertion while providing easy expansion and maximum endplate coverage.

 

4. Over the past year Life Spine has received several awards for their technology. In October 2013, the company received a Chicago Innovation Award for the AILERON Expandable Posterior Fusion System, chosen from 562 nominees. The system's in-situ expandable core offers patient-matched expansion for an ideal custom fit while minimizing surgical time.

 

5. China's orthopedics market has been booming — according to an August 2013 report from Orchid Orthopedic Solutions, the country recorded 420,000 incidences of spinal implantation in 2012, and millions of trauma devices. For the past several years, the country's compound annual growth rate has for the orthopedic market has hovered around 20 percent.

 

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